Gurnet Point, Novo complete acquisition of Paratek Pharmaceuticals

Gurnet Point Capital and Novo Holdings announced the completion of their acquisition of Paratek Pharmaceuticals. “Today’s completion of the acquisition of Paratek by Gurnet Point and Novo Holdings represents the beginning of a new chapter in our Company’s history,” said Evan Loh, M.D., Chief Executive Officer at Paratek. “We look forward to drawing upon the extensive experience of both Gurnet Point and Novo Holdings to provide lifesaving, transformative therapies to patients.” The consideration paid to stockholders in the transaction was $2.15 per share in cash, plus a Contingent Value Right of $0.85 per share payable upon the achievement of $320 million in U.S. NUZYRA net sales in any calendar year ending on or prior to December 31, 2026. Under the terms of the merger agreement, Gurnet Point and Novo Holdings acquired all outstanding shares of Paratek for approximately $462 million, including the assumption of debt and assuming full payment of a CVR. Stockholders approved the merger agreement proposal at Paratek’s special meeting of stockholders on September 18, 2023 in connection with the previously announced definitive agreement between the Company, Gurnet Point and Novo Holdings. Paratek will be delisted from NASDAQ Global Exchange.