EX-99.1
3
v136097_ex99-1.htm
Unassociated Document
Exhibit
99.1
News
Release
Nektar Therapeutics 201
Industrial Road San Carlos, CA 94070 650-631-3100 Phone 650-631-3150 Fax
www.nektar.com
Nektar
Announces Closing of Sale of Specific Pulmonary Delivery Assets to Novartis for
$115 Million
SAN
CARLOS, Calif., Dec 31, 2008 -- Nektar Therapeutics (Nasdaq: NKTR) today
announced that it has successfully closed the divestiture of specific Nektar
pulmonary delivery assets, technology, and intellectual property to Novartis for
$115 million in cash. The transaction was completed on December 31,
2008.
With the
closing, Novartis assumes ownership of certain dry powder and liquid pulmonary
formulation and manufacturing assets, including capital equipment and
manufacturing facility lease obligations. The sale also transferred to Novartis
approximately 140 Nektar personnel, as well as certain intellectual property and
manufacturing methods, including manufacturing and royalty rights to Novartis'
Tobramycin inhalation powder (TIP) program.
Nektar
continues to own its Bayer HealthCare-partnered program NKTR-061 (Amikacin
Inhale) and royalties from the Ciprofloxacin inhaled powder program (CIP), also
partnered with Bayer HealthCare. In addition, Nektar retains its NKTR-063
(inhaled vancomycin) program, as well as all intellectual property specific to
inhaled insulin.
JPMorgan
acted as exclusive financial advisor to Nektar.
About
Nektar
Nektar
Therapeutics is a biopharmaceutical company developing novel therapeutics based
on its advanced polymer conjugate technology platforms. Nektar's technology and
drug development expertise have enabled nine approved products for partners,
which include leading biopharmaceutical companies. Nektar is also developing a
robust pipeline of its own high-value therapeutics that addresses unmet medical
needs by leveraging and expanding its technology platforms to improve and enable
molecules. For more information on Nektar Therapeutics, please visit
http://www.nektar.com
.
Nektar
Contacts:
Jennifer
Ruddock
Nektar
Therapeutics
+1
650 631 4954
jruddock@nektar.com
Susan
Noonan
The
SAN Group
susan@sanoonan.com
+1
212 966 3650

EX - 99 . 1 3 v136097 _ ex99 - 1 . htm Un associated Document Exhibit 99 . 1 News Release Nektar Therapeutics 201 Industrial Road San Carlos , CA 94070 650 - 631 - 3100 Phone 650 - 631 - 3150 Fax www.nektar.com Nektar Announces Closing of Sale of Specific Pulmonary Delivery Assets to Novartis for $ 115 Million SAN CARLOS , Calif . , Dec 31 , 2008 -- Nektar Therapeutics ( Nasdaq : NKTR ) today announced that it has successfully closed the divestiture of specific Nektar pulmonary delivery assets , technology , and intellectual property to Novartis for $ 115 million in cash . The transaction was completed on December 31 , 2008 . With the closing , Novartis assumes ownership of certain dry powder and liquid pulmonary formulation and manufacturing assets , including capital equipment and manufacturing facility lease obligations . The sale also transferred to Novartis approximately 140 Nektar personnel , as well as certain intellectual property and manufacturing methods , including manufacturing and royalty rights to Novartis ' Tobramycin inhalation powder ( TIP ) program . Nektar continues to own its Bayer HealthCare - partnered program NKTR - 061 ( Amikacin Inhale ) and royalties from the Ciprofloxacin inhaled powder program ( CIP ) , also partnered with Bayer HealthCare . In addition , Nektar retains its NKTR - 063 ( inhaled vancomycin ) program , as well as all intellectual property specific to inhaled insulin . JPMorgan acted as exclusive financial advisor to Nektar . About Nektar Nektar Therapeutics is a biopharmaceutical company developing novel therapeutics based on its advanced polymer conjugate technology platforms . Nektar 's technology and drug development expertise have enabled nine approved products for partners , which include leading biopharmaceutical companies . Nektar is also developing a robust pipeline of its own high - value therapeutics that addresses unmet medical needs by leveraging and expanding its technology platforms to improve and enable molecules . For more information on Nektar Therapeutics , please visit http://www.nektar.com . Nektar Contacts : Jennifer Ruddock Nektar Therapeutics + 1 650 631 4954 jruddock@nektar.com Susan Noonan The SAN Group susan@sanoonan.com + 1 212 966 3650