Benzinga | Jun 29, 2021 08:01AM EDT

Paratek Pharma Reports First Biomedical Advanced Research and Development Authority (BARDA) Project BioShield Procurement Of NUZYRA, Valued At $38M

Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases and for other public health threats for civilian, government and military use, today announced Paratek has delivered the first procurement of NUZYRA to the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response (ASPR) at the U.S. Department of Health and Human Services (HHS), and BARDA has taken title of the product. This procurement is valued at ~$38 million and will be recognized in the Company's second quarter 2021 net sales of NUZYRA.

"This is an important milestone and validation of the continued commitment by BARDA to our ongoing partnership," said Evan Loh, MD, CEO, Paratek. "Paratek continues to execute and deliver on all aspects of this unique public-private partnership with BARDA to develop NUZYRA for the treatment of pulmonary anthrax, a bioterrorism threat deemed critical to develop novel treatments to address for national security by BARDA. We believe that NUZYRA, with its once-daily oral and intravenous formulations, approved for community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections, is well-positioned to help address potential public health emergencies, including pandemics, at a time when antibiotic resistance is a growing global threat."

In December 2019, BARDA awarded Paratek a five-year contract, valued at up to $284.5 million, to support: 1) the development of NUZYRA for the treatment of pulmonary anthrax; 2) U.S. Food and Drug Administration post-marketing requirements associated with the initial NUZYRA approval; 3) U.S. onshoring of NUZYRA and manufacturing security requirements, and 4) up to four procurements of NUZYRA. As described above, BARDA has taken title of the first procurement under the contract.

This Project BioShield project has been funded in whole or in part with federal funds from the Office of the Assistant Secretary for Preparedness and Response, Biomedical Advanced Research and Development Authority, under contract number 75A50120C00001.