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Commercial Alliances Merck & Co. - In August 2007, Paratek entered an exclusive worldwide agreement with Merck & Co. to develop and commercialize broad-spectrum tetracycline-derived antibiotics for the community marketplace. Under the agreement, Paratek retained rights to develop and commercialize tetracycline antibiotics for the hospital marketplace, received up-front and milestone payments and will receive additional milestone payments based on meeting clinical and commercial targets. Paratek will participate in preclinical development and share development, manufacturing and commercialization costs for a substantial royalty on sales. MerckSerono - In October 2004, Paratek entered into an agreement with Serono SA (now MerckSerono) to develop novel and improved oral tetracycline-based compounds for the treatment of MS based on non-antibiotic tetracycline derivatives. Under this agreement, Serono has funded lead development and optimization activities at Paratek and is responsible for worldwide development and commercialization of compounds resulting from the collaboration. Paratek received an initial upfront payment and milestone payments and will receive further milestones for progress in clinical and regulatory development as well as royalties on product sales. Warner Chilcott - In July 2007, Paratek entered into an agreement with Warner-Chilcott for the development and commercialization of improved tetracycline-derived narrow-spectrum antibiotics for the treatment of acne and rosacea. Lead compounds with improved anti-inflammatory activity and potential for reduced side effects and intolerabilities compared to older tetracyclines were identified and are currently in preclinical testing. Under its agreement with Warner-Chilcott, Paratek received an upfront payment and is eligible for further clinical development and regulatory approval milestone payments, and royalties for U.S. rights to the use of these compounds in acne and rosacea. |