Gurnet Point and Novo Holdings to acquire Paratek Pharmaceuticals for $462m

• When the deal closes, Paratek will stop trading on the NASDAQ
• The transaction is expected to close in the third quarter of 2023
• Moelis & Company LLC acted as financial advisor to Paratek Pharmaceuticals while Lazard acted as financial advisor to Gurnet Point Capital

Gurnet Point Capital and Novo Holdings have agreed to take Boston-based Paratek Pharmaceuticals, a biopharmaceutical company, private for about $462 million.

Oaktree Capital Management will provide $175 million in debt financing for this deal.

When the deal closes, Paratek will stop trading on the NASDAQ.

“We see an attractive opportunity to invest in and accelerate the commercialization of NUZYRA and to build a portfolio of additional value-creating assets to address significant unmet medical needs,” said Stacey Seltzer, a partner at Gurnet Point in a statement. “Antimicrobial resistance is a critical public health threat that claims the lives of more than 1.2 million people globally per year. We’re excited to collaborate with like-minded investors who share our aim of providing the capital and resources required to advance the commercialization of NUZYRA and support the development of additional therapies that can improve patient outcomes.”

The transaction is expected to close in the third quarter of 2023.

Moelis & Company LLC acted as financial advisor to Paratek Pharmaceuticals, and Ropes & Gray LLP is serving as legal advisor. Lazard acted as financial advisor to Gurnet Point Capital, and Latham & Watkins LLP is serving as legal advisor. Goodwin Procter LLP is serving as legal advisor to Novo Holdings A/S. Sullivan & Cromwell LLP served as legal counsel to Oaktree.

Gurnet Point Capital invests in healthcare.

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation.