Nek­tar sells off roy­al­ties on its 2 ap­proved drugs for $150M in cash, re­dou­bling fo­cus on I-O can­di­dates

A lit­tle less than a year ago, an FDA ad­comm unan­i­mous­ly re­ject­ed Nek­tar Ther­a­peu­tics’ opi­oid pro­gram, ef­fec­tive­ly send­ing it to the chop­ping block. Now, look­ing for a quick cash in­fu­sion to fi­nance clin­i­cal tests for two oth­er can­di­dates, Nek­tar will sell off roy­al­ties for its on­ly two ap­proved US med­i­cines.

Roy­al­ties on fu­ture sales of part­ner meds Adyno­vate and Movan­tik will be turned over to Health­care Roy­al­ty Man­age­ment in ex­change for $150 mil­lion in cash, San Fran­cis­co-based Nek­tar an­nounced Tues­day morn­ing. HCR is ex­pect­ed to make the pay­ment by the end of the year, and Nek­tar said it plans to put the funds to­ward clin­i­cal tri­als for its ear­ly- and late-stage im­mune-on­col­o­gy pro­grams tar­get­ing IL-2 and IL-15.

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