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Commercial Alliances 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. A lead compound with improved anti-inflammatory activity and potential for reduced side effects and intolerabilities compared to older tetracyclines was identified and is currently in clinical 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. Paratek retains rights for these products outside the U.S. Animal Health Company - In December 2007, Paratek entered into a Collaborative Agreement with a leading Global Animal Health Company to develop novel and improved oral tetracycline-based compounds for the treatment of BRD and PRD infections in livestock. Under this agreement, Paratek assists in development efforts, but the Global Animal Health Company is responsible for funding and all development and commercialization of compounds that arise from the collaboration. Paratek received an initial upfront payment, research support and will receive further milestones for progress in clinical development and with regulatory authorities and royalties on any product sales under this agreement. Lead and back-up compounds have been identified, and clinical studies are expected to start in the near future. |