Nektar Announces Closing of Sale of Specific Pulmonary Delivery Assets to Novartis for $115 Million
(Nasdaq: NKTR) today announced that it has successfully closed the divestiture
of specific Nektar pulmonary delivery assets, technology, and intellectual
property to Novartis for
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With the closing, Novartis assumes ownership of certain dry powder and
liquid pulmonary formulation and manufacturing assets, including capital
equipment and manufacturing facility lease obligations. The sale also
transferred to Novartis approximately 140 Nektar personnel, as well as certain
intellectual property and manufacturing methods, including manufacturing and
royalty rights to Novartis’ Tobramycin inhalation powder (TIP) program.
Nektar continues to own its Bayer HealthCare-partnered program NKTR-061
(Amikacin Inhale) and royalties from the Ciprofloxacin inhaled powder program
(CIP), also partnered with Bayer HealthCare. In addition, Nektar retains its
NKTR-063 (inhaled vancomycin) program, as well as all intellectual property
specific to inhaled insulin.
JPMorgan acted as exclusive financial advisor to Nektar.
About Nektar
Nektar Therapeutics is a biopharmaceutical company developing novel
therapeutics based on its advanced polymer conjugate technology platforms.
Nektar’s technology and drug development expertise have enabled nine approved
products for partners, which include leading biopharmaceutical companies.
Nektar is also developing a robust pipeline of its own high-value therapeutics
that addresses unmet medical needs by leveraging and expanding its technology
platforms to improve and enable molecules. For more information on Nektar
Therapeutics, please visit http://www.nektar.com.
Nektar Contacts:
Jennifer Ruddock
Nektar Therapeutics
+1 650 631 4954
jruddock@nektar.com
Susan Noonan
The SAN Group
susan@sanoonan.com
+1 212 966 3650
SOURCE Nektar Therapeutics