Paratek Expands into Chronic Rhinosinusitis Market with $330M Optinose Acquisition
Paratek Pharmaceuticals to acquire Optinose for up to $330 million
Deal gives Paratek access to XHANCE, an FDA-approved nasal spray for chronic rhinosinusitis
XHANCE uses Optinose's proprietary Exhalation Delivery System technology
Acquisition expands Paratek's portfolio beyond antibiotics into ENT/allergy market
Upfront payment of $9 per Optinose share, plus up to $5 per share in contingent value rights
Deal expected to close in mid-2025, subject to shareholder and regulatory approvals
Paratek aims to leverage its commercial infrastructure to expand XHANCE adoption
Acquisition aligns with Paratek's strategy to become a multi-product specialty pharma company