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Nektar Announces Restructuring to Complete Its Transition to a Therapeutics Drug Development Organization
Date:2/12/2008

SAN CARLOS, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Nektar Therapeutics (Nasdaq: NKTR) announced a restructuring today designed to complete its transition from a drug delivery service provider to a therapeutics drug development organization. The restructuring will streamline the company, consolidate corporate functions, and strengthen decision-making and execution within the business units.

"We are transforming Nektar into a world-class drug development company and these changes are a natural progression on the path to achieving this vision," said Howard W. Robin, President and Chief Executive Officer of Nektar. "This restructuring aligns the organization with the future direction of our company and strengthens our ability to drive programs rapidly through the clinic."

Approximately 150 positions have been eliminated as a result of the restructuring. Importantly, Nektar has preserved the necessary technical and manufacturing personnel and capabilities to support its ongoing effort to forge a new partnership for its inhaled insulin programs.

Nektar has made significant progress this past year in advancing its proprietary pipeline. The company recently initiated phase 2 clinical trials for its two leading PEGylated small molecule programs, NKTR-102 (PEG-irinotecan) for solid tumors and NKTR-118 (oral PEG-naloxol) for opioid bowel dysfunction. NKTR-061 (inhaled amikacin), which is being co-developed with Bayer AG to treat hospital-acquired pneumonia, is expected to enter Phase 3 trials this year.

The company will release its full financial results for the fourth quarter and full year 2007 on February 27, 2008. At that time, it will host a conference call for investors and analysts beginning at 2:00 PM PT/5:00 PM
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