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Nektar Commences Phase 2 Trial of NKTR-118 (oral PEG-naloxol) Evaluating Efficacy and Safety as Treatment for Opioid-Induced Bowel Dysfunction
Date:1/8/2008

hion, reaching maximal effect at 125 mg. Further, no diminution of morphine-induced miosis, a CNS effect, was observed at single oral doses of NKTR-118 that produced a maximal effect on gastrointestinal transit time. NKTR-118 was well-tolerated and rapidly absorbed with dose proportional pharmacokinetics over single dose ranges of 8-1,000 mg.

According to IMS Health, more than 200 million prescriptions were written for opioids in 2006 in the United States, alone. Many studies indicate that a high percentage of patients receiving opioids are likely to experience significant constipation and other symptoms of OBD. Stool softeners or laxatives may be inadequate for many patients with OIC and often are associated with unwanted side effects such as bloating and cramping.

Data Presentations for NKTR-118

Study results from Phase 1 and preclinical trials for NKTR-118 were presented at the American College of Clinical Pharmacology conference and the American Academy of Pain Management's Annual Clinical Meeting in September 2007. These presentations can be found at: http://www.nektar.com/wt/page/nktr118_media

About Nektar

Nektar Therapeutics is a biopharmaceutical company that develops and enables differentiated therapeutics with its industry-leading PEGylation and pulmonary drug development platforms. Nektar PEGylation and pulmonary technology, expertise, and manufacturing capabilities have enabled ten approved products for partners, which include the world's leading pharmaceutical and biotechnology companies. Nektar also develops its own products by applying its PEGylation and pulmonary technology platforms to existing medicines with the objective to enhance performance, such as improving efficacy, safety and compliance.

This press release contains forward-looking statements that reflect the company's current views as to the value, relative competitive position,
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