Nektar Announces Agreement With Baxter to Develop New PEGylated Therapeutics for ...( Companies Build on Existing Collabo...),Health

Companies Build on Existing Collaboration For Long Acting Blood Clotting

Factors For Hemophilia

SAN CARLOS, Calif., Dec. 20 /PRNewswire-FirstCall/ -- Nektar Therapeutics (Nasdaq: NKTR) today announced a new agreement with subsidiaries of Baxter International Inc. to develop new PEGylated therapeutics for hemophilia. The program will begin preclinical development in 2008.

This is the second agreement between Nektar and Baxter to work together on innovative therapeutics for hemophilia patients. The two companies announced their initial agreement in September of 2005 to develop PEGylated therapeutic forms of clotting proteins to treat hemophilia A.

"We are pleased to expand our partnership with Nektar," said Hartmut J. Ehrlich, M.D., vice president of global research and development for Baxter's BioScience business. "Partnering with world-class science and technology companies is one of the ways Baxter continues to advance our product development."

Under the terms of the expanded agreement, Nektar will receive up to $44 million in upfront and milestone payments, funding of research and development, and manufacturing revenues during research, clinical development, and commercialization. Nektar will also receive royalties on end product sales.

"We're pleased to work on innovative PEGylated therapeutics with Baxter, an exceptional partner and a leader in the hemophilia space," said Hoyoung Huh, M.D., Ph.D., Nektar Chief Operating Officer and Head of the PEGylation Business Unit. "This agreement highlights our commitment to collaborate with market leaders such as Baxter in the development of groundbreaking therapeutics."

Baxter will be responsible for the development and commer
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