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Nektar Inks $1.85B Bristol-Myers Cancer Drug Collaboration

Law360 (February 14, 2018, 2:13 PM EST) -- Nektar Therapeutics has inked a $1.85 billion cash-and-stock deal to jointly develop and manage its cancer-fighting, immuno-stimulatory therapy in combination with two Bristol-Myers Squibb cancer treatments, the companies said Wednesday.

According to the joint announcement, Bristol-Myers Squibb Co. has agreed to pay Nektar $1 billion in cash and buy $850 million worth of Nektar shares at $102.60 a piece. Nektar could also pocket roughly $1.78 billion in development, regulatory and sales milestones, the announcement added.

The companies said they will split global profits for the therapy,...
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