Bristol Myers-Squibb to partner with Nektar on NKTR-214

Bristol Myers-Squibb has agreed a deal to join Nektar's NKTR-214 immuno-oncology program in a USD 1.85 billion (GBP 1.32 billion) deal that will see the two companies collaborate in the development of both NKTR-214 and Bristol-Myers Squibb’s Opdivo (nivolumab) and Opdivo plus Yervoy (ipilimumab).

This combination will be developed and sold as treatments for nine different kinds of tumour, including melanoma, renal cell carcinoma, non-small cell lung cancer, bladder, and triple negative breast cancer.

Under the terms of the deal, Bristol Myers-Squibb will make a lump-sum cash payment of USD 1 billion and buy USD 850 million of Nektar common stock. 

Nektar will receive 65 percent of the profits from sales of NKTR-214, while Bristol Myers-Squibb will get the other 35 per cent and retain all profits from its own products. 

Commenting on the potential of the new drug, senior vice-president for research and development at Nektar Steve Doberstein said: "The ability to treat many more patients is powerful, NKTR-214 allows that possibility."

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