Paratek Pharmaceuticals is relying on its longtime New York PR firm, Burns McClellan, for support as the Boston-based drug company slates an initial public offering.
Paratek, which develops drugs to prevent and treat bacterial skin and urinary tract infections, announced the IPO plans Sept. 28, but did not set a price range or number of shares.
Paratek says in its IPO prospectus that its believes the company’s lead product candidate, omadacycline, could become the primary antibiotic choice for doctors to treat certain skin infections, bacterial pneumonia, and urinary tract infections, among others.
It hopes to take on Pfizer’s skin infection drug Zyvox, which had 2011 sales of $1.3B.
Kathy Galanta, senior VP of IR for Burns McClellan, handles the Paratek business. The PR firm specializes in life sciences and healthcare.
The company, founded in 1996, locked up $40M in private financing in 2007-08. Its prospectus acknowledges that it has “incurred significant losses since inception” and has not approved commercial products for sale.