Paratek Pharmaceuticals completes acquisition of Optinose

Paratek Pharmaceuticals, announced that the Company has completed its acquisition of Optinose (OPTN). This acquisition broadens Paratek’s commercial portfolio which now includes both its flagship antibiotic, NUZYRA, and Optinose’s product XHANCE. Under the terms of the merger agreement, Paratek acquired all outstanding shares of Optinose for approximately $330M, including the assumption of debt and assuming full payment of the contingent value rights, and Optinose shareholders were paid $9 per share in cash and received CVRs for up to $5 per share in cash payable in the event that certain net revenue milestones are achieved by XHANCE. Paratek will pay $1 per share if XHANCE achieves $150M in net sales in any calendar year prior to December 31, 2028, and $4 per share if XHANCE achieves $225M in net sales in any calendar year prior to December 31, 2029. Optinose shareholders approved the merger proposal at Optinose’s special meeting of shareholders held on May 16, 2025, and following completion of the merger Optinose’s common stock will be delisted from the Nasdaq Global Select Market. The transaction was financed with capital from Paratek, B-FLEXION Life Sciences, and Novo Holdings, and debt financing from funds managed by Oaktree Capital Management.