Paratek is developing novel antibiotics based upon its expertise in tetracycline chemistry. The company was formed from a reverse merger with Nasdaq-listed Transcept Pharmaceuticals and Abingworth Partner, Michael Bigham, joined the combined company as Chairman and CEO (and remains Exec Chair). Paratek is a VIPE (Venture Investment in Private Equity). The company's lead product, NUZYRA® (omadacycline) is a once-daily intravenous and oral antibiotic for the treatment a new broad-spectrum antibiotic, is approved in the US for community-acquired bacterial pneumonia and for acute skin and skin structure infections. Its second approved product, SEYSARA®(sarecycline), is marketed by Almirall, LLC in the U.S. as a new once-daily oral therapy for the treatment of moderate to severe acne vulgaris. In September 2023 Novo Holdings and Gurnet Point Capital completed the acquisition of Paratek and took the company private.