Nektar Therapeutics : Announces Effective Date of Global Development & Commercialization Collaboration with Bristol-Myers Squibb
SAN FRANCISCO, April 3, 2018 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) announced today that the waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the previously-announced Strategic Collaboration Agreement between Nektar and Bristol-Myers Squibb Company is now effective. The global development and commercialization collaboration for Nektar's CD122-biased agonist, NKTR-214, was announced on February 14, 2018.
Upon the collaboration agreement becoming effective on April 3, 2018, Bristol-Myers Squibb made a non-refundable upfront cash payment of $1.0 billion to Nektar. In addition, Bristol-Myers Squibb paid the purchase price of $850 million to Nektar for the sale and issuance by Nektar of 8,284,600 shares of its common stock to Bristol-Myers Squibb pursuant to a share purchase agreement entered into concurrently with the collaboration agreement.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company with a robust, wholly-owned R&D pipeline of investigational medicines in oncology, immunology and pain as well as a portfolio of approved partnered medicines. Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama and Hyderabad, India. Further information about the company and its drug development programs and capabilities may be found online at http://www.nektar.com.
Contacts (for Nektar):
Jennifer Ruddock of Nektar Therapeutics
Dan Budwick of Pure Communications, Inc.
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SOURCE Nektar Therapeutics