FOR IMMEDIATE RELEASE
Prokaryotics Announces Licensing Agreement with Merck for
Novel Investigational Antibiotic Candidates
Union, NJ -- November 27, 2017 -- Prokaryotics, Inc., a privately-held biopharmaceutical company engaged in the discovery and development of novel anti-infective drugs, announced today that it has entered into a licensing agreement with Merck, known as MSD outside the United States and Canada.
As part of this agreement, Prokaryotics gains worldwide rights to develop, manufacture and commercialize a collection of early pre-clinical programs and compounds with potential application as novel antibiotics targeting Gram-negative and Gram-positive bacterial cell envelope enzymes. Specific terms of the agreement were not disclosed.
“As a leader in antibiotics research and development we are grateful for Merck’s support in the formation of Prokaryotics and sharing our vision in providing innovation in the field of antibiotic R&D and commitment to addressing the global threat of antibiotic resistance,” said Terry Roemer, Founder and CSO.
“By bringing together this exciting portfolio of assets along with our internationally renowned network of academic experts and collaborators, Prokaryotics is well positioned to translate these assets into the much-needed next generation of antibiotics with novel mechanisms.”
Prokaryotics is located at the Institute for Life Science Entrepreneurship (ILSE), at Kean University, in Union New Jersey. Keith Bostian, CEO of ILSE, and Interim CEO of Prokaryotics, said, “As a start-up company, Prokaryotics has an impressive array of assets to contribute to the global efforts in combating antibiotic resistant bacteria, and we are very pleased to have them in our base of clients focused on this critical unmet medical need”. Companies like this with truly innovative strategies to counter the epidemic of AMR bacteria are critically important.”
About Multi-Drug Resistant Infections
The relentless advance of antibiotic drug resistant bacteria has raised concerns whether within the next 2-3 decades we could be facing a ‘pre-antibiotic era’ where existing antibiotics will become largely ineffective in treating serious and life-threatening infections. Indeed, the World Health Organization has projected that the impact on human health and economic costs associated with antibiotic drug resistance will rival that of global warming. New classes of antibiotics with novel mechanisms of action are urgently needed to combat the growing threat of multi-drug resistant bacteria.
About Prokaryotics, Inc.
Prokaryotics Inc. is a biopharmaceutical company focused on the discovery and development of novel antibiotic classes that target serious multi-drug resistant bacterial infections. Prokaryotics Inc. leverages a deep knowledge of bacterial physiology, innovative screening strategies, and scientific excellence necessary to discover and develop new classes of antibiotics targeting outer membrane biogenesis - the fundamental armor erected by bacteria to naturally withstand the effects of antibiotics.
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