Bristol-Myers Squibb and Nektar Therapeutics collaborate commercially for NKTR-214
Companies to share global profits on NKTR-214, with Nektar receiving 65% and Bristol-Myers Squibb 35%. Bristol-Myers Squibb to pay Nektar $1.85 billion upfront, comprised of $1.0 billion in cash and the purchase of ~8.28 million shares of Nektar stock at $102.60 per share.
Bristol-Myers Squibb Company and Nektar Therapeutics collaborate commercially for Nektar’s lead immuno-oncology program, NKTR-214.
The companies will jointly develop and commercialize NKTR-214 in combination with Bristol-Myers Squibb’s Opdivo(nivolumab) and Opdivo plus Yervoy (ipilimumab) in more than 20 indications across 9 tumor types, as well as potential combinations with other anti-cancer agents from either of the respective companies and/or third parties.
NKTR-214, a CD122-biased agonist, is an investigational immuno-stimulatory therapy designed to selectively expand cancer-fighting T cells and natural killer (NK) cells directly in the tumor micro-environment and increase PD-1 expression on those immune cells.
Giovanni Caforio, M.D., Chairman and CEO, Bristol-Myers Squibb said “Bristol-Myers Squibb has established Opdivo plus Yervoy as the only approved immunotherapy combination for cancer patients and built a robust oncology pipeline. With this commitment to the development of NKTR-214, an investigational therapy designed with a unique approach to harnessing the full potential of the interleukin-2 pathway, we now have a third validated I-O mechanism that has demonstrated a clinical benefit in patients, and holds significant potential to expand the benefits that these immuno-oncology agents can bring to patients with cancer.”