Bristol-Myers lassos the next big thing in I/O, grabs '214 rights in a record $3.6B deal with Nektar
After figuring for days in a swirling mix of rumors about a possible buyout, Nektar Therapeutics $NKTR is putting an end to the buzz with a record, multibillion-dollar partnership deal with Bristol-Myers Squibb for a minority share of its early-stage immuno-oncology drug NKTR-214.
Looking for a major new commercial opportunity to follow up on its two big I/O leaders — Opdivo and Yervoy — Bristol-Myers has forged a broad deal that will give the big biotech an exclusive development period to pursue a broad new combo development program covering 20 indications involving 9 tumors, matching ‘214 with Opdivo and Yervoy.
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