US-based Paratek Pharmaceuticals will acquire all outstanding shares of intranasal drug developer Optinose in a deal worth up to $330 million, the companies said. According to the announcement, both companies’ boards have approved the deal, which could close by mid-2025. Paratek will pay $9 per share up front plus up to an additional $5 per share in milestone payments based on net sales.
Paratek markets Nuzyra omadacyline, an antibiotic approved for the treatment of community-acquired bacterial pneumonia as well as for certain skin infections. Optinose’s Xhance fluticasone propionate nasal spray was approved by the FDA for the treatment of nasal polyps in 2017 and for the treatment of chronic rhinosinusitis without nasal polyps in 2024.
Paratek CEO Evan Loh commented, “With its recent label expansion, Xhance is now the first and only product approved for patients with CRS with or without nasal polyps. The Xhance indications represent overlapping call points with Nuzyra, creating opportunities for Paratek to broaden reach and awareness beyond specialists to primary care providers that Paratek is uniquely suited to maximize. Importantly, the majority of the primary care physicians Paratek calls on for Nuzyra and its approved indications are also treating patients with CRS, offering a key overlap in targets for our salesforce.”
Optinose CEO Ramy Mahmoud commented, “We have long recognized the potential of Xhance to transform how CRS is treated. We have been exploring opportunities to make more patients and doctors aware of Xhance and the benefits it can offer to patients suffering from this common condition. Paratek, with its robust commercial and medical capabilities, has the potential to rapidly extend awareness of Xhance to primary care providers who treat the majority of patients with CRS. We are excited about the many ways in which this transaction creates opportunities for Xhance to help more patients achieve better symptom control while creating near- and long-term value for Optinose’s shareholders.”
Read the Paratek Pharmaceuticals press release
