SAN FRANCISCO, April 3, 2018 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) announced today that the waiting periodhas 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
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): Investors: Jennifer Ruddock of Nektar Therapeutics 415-482-5585
Media: Dan Budwick of Pure Communications, Inc. (973) 271-6085 email@example.com
View original content:http://www.prnewswire.com/news-releases/nektar-therapeutics-announces-effective-date-of-global-development--commercialization-collaboration-with-bristol-myers-squibb-300623904.html
SOURCE Nektar Therapeutics
Subscribe to our Free Newsletters!