Bristol-Myers Squibb and Nektar Therapeutics Enter Global Collaboration Agreement

February 16, 2018

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ristol-Myers Squibb entered a global strategic collaboration with Nektar Therapeutics to jointly research an experimental immunotherapy across nine tumor types. 

The collaboration agreement focuses on a CD122-biased agonist, which is an investigational immuno-stimulatory therapy designed to selectively expand cancer-fighting T cells and natural killer (NK) cells directly in the tumor microenvironment and potentially increase PD-1 expression on those immune cells.

Under the terms of the agreement, Bristol-Myers Squibb will make an upfront cash payment of $1 billion and an equity investment of $850 million (8,284,600 shares of Nektar’s common stock at $102.60 per share). Nektar is also eligible to receive an additional $1.78 billion in milestones, of which $1.43 billion are development and regulatory milestones and the remainder are sales milestones.

Nektar Therapeutics, based in San Francisco, 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. 

To learn more about the collaboration agreement with Nektar Therapeutics, view the press release here.