Nektar Therapeutics Announces Effective Date of Global Development & Commercialization Collaboration with Bristol-Myers Squibb
- Nektar Therapeutics (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.