AstraZeneca and Nektar Sign Worldwide Agreement for Nektar Drug Development Programmes -- NKTR-118 and NKTR-119 -- to Address Opioid-Induced Co...(pain without the side effect of constipa...)

Date:9/21/2009

pain without the side effect of constipation traditionally associated with opioid therapy. AstraZeneca will continue the development of this programme, including determining the appropriate opioid combinations with NKTR-118. For NKTR-119, Nektar would receive development milestone payments as well as tiered sales milestone payments. Nektar will also receive significant double-digit royalty payments on NKTR-119 net sales worldwide.

"NKTR-118 is an important late stage programme that has the potential to address a real need for patients," said David Brennan, Chief Executive Officer of AstraZeneca. "We are excited about this agreement with Nektar, as it provides us the opportunity to apply our deep knowledge and expertise in neuroscience, oncology and gastrointestinal areas of medicine to create real value for patients. This is a good example of using externalisation to enrich the company's late-stage pipeline."

"We are extremely pleased to enter into this exclusive global license agreement with AstraZeneca," said Howard W. Robin, President and Chief Executive Officer of Nektar Therapeutics. "AstraZeneca has a strong history of creating and establishing market-leading brands, which makes them the ideal development and commercial partner for our NKTR-118 and NKTR-119 programmes. In addition to the promise that these potential products provide to patients, this partnership validates Nektar's successful strategy to create novel oral small molecule drug candidates with our advanced polymer conjugate technology platform."

NKTR-118 is an investigational drug candidate that combines Nektar's advanced small molecule polymer conjugate technology platform with naloxol, a derivative of the opioid-antagonist drug, naloxone. Results from NKTR-118's Phase 2 clinical trial will be presented at an oral plenary session of the American College of Gastroenterology 2009 Annual Scientific Meeting in October.

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SOURCE Nektar Therapeutics Copyright©2009 PR Newswire. All rights reserved

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