Transcept Pharmaceuticals Inc. and Paratek Pharmaceuticals Inc. July 1 announced that they have entered into a definitive merger agreement under which the stockholders of Paratek will become the majority owners of Transcept and the operations of Transcept and Paratek will be combined.
Paratek focuses on development of antibiotics and is based in Boston. Transcept is based in Pt. Richmond, Calif., and is a specialty drug company; its first Food and Drug Administration-approved product is the sleep drug Intermezzo, which is sold by Purdue Pharma.
As part of the proposed transaction, new investors (including the Baupost Group, Abingworth LLP and other ...
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