Some good news today on the other fronts with NKTR...Exubera is not the only horse that NKTR has in the race...and that is good.
Nektar Announces Receipt of $17.6 Million Payment From Affymax, Inc. Under Agreement for Nektar Advanced PEGylation Technology; Cash Payment Resulting From Affymax and Takeda Signing Global Agreement for Hematide(TM) for the Treatment of Anemia
SAN CARLOS, Calif.--(BUSINESS WIRE)--July 24, 2006--
Nektar Therapeutics (Nasdaq:NKTR) announced today that
it has received a $17.6 million payment under a previously undisclosed
license agreement with Affymax, Inc. The cash payment under the
Nektar-Affymax agreement was triggered by Affymax entering into a
global agreement with Takeda, Inc. to develop and commercialize
Affymax's lead product candidate, Hematide(TM). Hematide utilizes
Nektar Advanced PEGylation Technology and is in Phase IIb clinical
trials for the treatment of anemia.
Nektar and Affymax entered into a partnership in 2004 under which
Nektar provides Affymax with its Advanced PEGylation Technology to
develop Hematide. Under the terms of the agreement, Nektar receives
manufacturing revenue, milestone and other payments, as well as
royalties on worldwide end product sales. Nektar first announced the
agreement in May of 2004 as a collaboration with an undisclosed
biotechnology company.
"This payment highlights the value of Nektar PEGylation
technology, which is used in eight marketed products and two
additional products filed for regulatory approval in the U.S. and
Europe," said Rob Chess, Nektar chairman and acting chief executive
officer and president. "Our PEGylation technology has proven its
ability to create blockbuster drugs for our partners. As part of our
focus on expanding our PEGylation business, Nektar is identifying and
developing our own proprietary products using PEGylation. This
includes two early-stage programs in our pipeline in the disease areas
of oncology and pain." |
