Latham & Watkins Advises Gurnet Point Capital in Acquisition of Paratek Pharmaceuticals

Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, has announced that it has entered into a definitive agreement to be acquired by Gurnet Point Capital and Novo Holdings A/S in a transaction valued at approximately US$462 million, including the assumption of debt and assuming full payment of a Contingent Value Right (CVR). Debt financing of US$175 million for this transaction will be provided by funds managed by Oaktree Capital Management, L.P.

Latham & Watkins LLP represents Gurnet Point Capital in the transaction with a corporate deal team led by partners Leah Sauter and Peter Handrinos, with associates William Tevlin, Ozden Samur-LaBruna, and Jesse Lake. Advice was also provided on intellectual property matters by partner Chris Hazuka, with associate Arun Mohan; on executive compensation and employee benefits matters by partner Matthew Conway, with associate Ashlie Lawton; on data privacy matters by partner Marissa Boynton, with associates Kiara Vaughn, and Priyanka Krishnamurthy; on equity derivatives by partner Reza Mojtabaee-Zamani, with associate Jack Neff; on tax matters by partner Katharine Moir, with associate Gregory Conyers; on financing matters by partners Haim Zaltzman and Jennifer Kent, on antitrust matters by counsels Patrick English and Wesley Lepla, with associate Denver Dunn; and on regulatory matters by counsel Ruchi Gill.