{"id":404459,"date":"2020-12-22T08:33:37","date_gmt":"2020-12-22T13:33:37","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404459"},"modified":"2020-12-22T08:33:37","modified_gmt":"2020-12-22T13:33:37","slug":"nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/","title":{"rendered":"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SAN FRANCISCO<\/span>, <span class=\"xn-chron\">Dec. 22, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0Nektar Therapeutics (NASDAQ:\u00a0NKTR) today announced that it agreed to sell to entities managed by Healthcare Royalty Management, LLC (HCR) its royalties on future sales of ADYNOVATE, under Nektar&#8217;s agreement with Baxalta Incorporated, a Takeda company, and MOVANTIK, under Nektar&#8217;s agreement with AstraZeneca AB. Under the terms of the new Purchase and Sale Agreement, HCR will pay Nektar an aggregate cash payment of\u00a0$150.0 million by <span class=\"xn-chron\">December 31, 2020<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1390052\/nektar_logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1390052\/nektar_logo.jpg\" title=\"\" alt=\"\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Nektar intends to use the net proceeds of the transaction towards the funding of clinical trials for its early and late stage immune-oncology programs. For the nine-month period ended\u00a0September 30, 2020, Nektar recognized\u00a0$30.5 million\u00a0in aggregate royalties from net sales of ADYNOVATE and MOVANTIK.<\/p>\n<p>&#8220;This non-dilutive financing strengthens our financial position as we continue to advance our key IL-2 and IL-15 pipeline programs in solid and liquid tumor settings,&#8221; said\u00a0Howard W. Robin, President and Chief Executive Officer of Nektar. &#8220;We would like to thank HCR for partnering with us on this transaction.&#8221;<\/p>\n<p>The new Purchase and Sale Agreement with HCR includes provisions for automatic expiration upon reaching either aggregate royalty payments equal to <span class=\"xn-money\">$210.0 million<\/span> by the end of 2025 or, if that threshold is not met, aggregate royalty payments of <span class=\"xn-money\">$240.0 million<\/span> over the life of the agreement. After expiration, all rights to receive the royalties return to Nektar. With the closing of this Agreement in the fourth quarter of 2020, Nektar now expects to end the year with approximately <span class=\"xn-money\">$1.2 billion<\/span> in cash and investments in marketable securities. <\/p>\n<p>\n        <span class=\"xn-person\">Clarke Futch<\/span>, Managing Partner &amp; Chairman at HCR, stated:\u00a0&#8220;We are pleased to have had the opportunity to help Nektar monetize non-core royalty assets as the company continues to fund the development of its pipeline. ADYNOVATE and MOVANTIK are mature, important medicines that HCR is pleased to add to its portfolio.&#8221;<\/p>\n<p>Morgan Stanley &amp; Co. LLC acted as sole structuring agent to Nektar in connection with the transaction, and Goodwin Procter LLP acted as special counsel to Nektar. Gibson Dunn &amp; Crutcher LLP acted as counsel to HCR.<\/p>\n<p>\n        <b>About Nektar Therapeutics<\/b>\n      <\/p>\n<p>Nektar Therapeutics is a biopharmaceutical company with a robust, wholly owned R&amp;D pipeline of investigational medicines in oncology, immunology and virology. Nektar is headquartered in <span class=\"xn-location\">San Francisco, California<\/span>, with additional operations in <span class=\"xn-location\">Huntsville, Alabama<\/span> and <span class=\"xn-location\">Hyderabad, India<\/span>. Further information about the company and its drug development programs and capabilities may be found online at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3018888-1&amp;h=904226001&amp;u=http%3A%2F%2Fwww.nektar.com%2F&amp;a=http%3A%2F%2Fwww.nektar.com\" rel=\"nofollow noopener noreferrer\">http:\/\/www.nektar.com<\/a>.<\/p>\n<p>\n        <b>About Healthcare Royalty Partners<\/b>\n      <\/p>\n<p>HCR is a private investment firm that purchases royalties and uses debt-like structures to invest in commercial or near-commercial stage biopharmaceutical assets. HCR has raised <span class=\"xn-money\">$5.7 billion<\/span> in cumulative capital commitments with offices in Stamford (CT), <span class=\"xn-location\">San Francisco<\/span>, <span class=\"xn-location\">Boston<\/span> and London.\u00a0For more information, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3018888-1&amp;h=3803757890&amp;u=http%3A%2F%2Fwww.healthcareroyalty.com%2F&amp;a=www.healthcareroyalty.com\" rel=\"nofollow noopener noreferrer\">www.healthcareroyalty.com<\/a>.<\/p>\n<p>\n        <b>Cautionary Note Regarding Forward-Looking Statements<\/b><br \/>\n        \n      <\/p>\n<p>This press release contains &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: &#8220;will,&#8221; &#8220;intend,&#8221; &#8220;continue,&#8221; &#8220;return,&#8221; &#8220;expect&#8221; and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our intentions for funding specified clinical trials, the strength of our financial period in future periods, and our expectations for our year-end cash position.\u00a0 Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, (i) the extent and duration of the impact of the COVID-19 pandemic on our business, regulatory efforts, research and development, clinical trials (including those being led by us and our partner), and corporate development activities will depend on future developments that are highly uncertain and cannot be accurately predicted, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the U.S. and in other countries, as well as the effectiveness of actions taken globally to contain and treat the disease; (ii) our drug candidates are in various stages of clinical development and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval for numerous reasons including safety and efficacy findings even after positive findings in preclinical and clinical studies; (iii) the timing of the commencement or end of clinical trials and the commercial launch of our drug candidates may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (iv) scientific discovery of new medical breakthroughs is an inherently uncertain process and the future success of the application of our technology platform to potential new drug candidates is therefore highly uncertain and unpredictable and one or more research and development programs could fail; and (v) certain other important risks and uncertainties set forth in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on <span class=\"xn-chron\">November 6, 2020<\/span>. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.<\/p>\n<p>\n        <b>Contact:<\/b>\n      <\/p>\n<p>\n        <b>For Investors:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Jerry Isaacson<\/span> of Nektar Therapeutics<br \/>628-895-0634<br \/><span class=\"xn-person\">Vivian Wu<\/span> of Nektar Therapeutics<br \/>628-895-0661<\/p>\n<p>\n        <b>For Media:<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Dan Budwick<\/span> of 1AB<br \/>973-271-6085<\/p>\n<p>ADYNOVATE is a registered trademark of Baxalta Incorporated, a Takeda company, and MOVANTIK is a registered trademark of AstraZeneca AB.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF30032&amp;sd=2020-12-22\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million-301197350.html\">http:\/\/www.prnewswire.com\/news-releases\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million-301197350.html<\/a><\/p>\n<p>SOURCE  Nektar Therapeutics<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF30032&amp;Transmission_Id=202012220830PR_NEWS_USPR_____SF30032&amp;DateId=20201222\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SAN FRANCISCO, Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Nektar Therapeutics (NASDAQ:\u00a0NKTR) today announced that it agreed to sell to entities managed by Healthcare Royalty Management, LLC (HCR) its royalties on future sales of ADYNOVATE, under Nektar&#8217;s agreement with Baxalta Incorporated, a Takeda company, and MOVANTIK, under Nektar&#8217;s agreement with AstraZeneca AB. Under the terms of the new Purchase and Sale Agreement, HCR will pay Nektar an aggregate cash payment of\u00a0$150.0 million by December 31, 2020. Nektar intends to use the net proceeds of the transaction towards the funding of clinical trials for its early and late stage immune-oncology programs. For the nine-month period ended\u00a0September 30, 2020, Nektar recognized\u00a0$30.5 million\u00a0in aggregate royalties from net sales of ADYNOVATE and MOVANTIK. &#8220;This non-dilutive &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404459","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN FRANCISCO, Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Nektar Therapeutics (NASDAQ:\u00a0NKTR) today announced that it agreed to sell to entities managed by Healthcare Royalty Management, LLC (HCR) its royalties on future sales of ADYNOVATE, under Nektar&#8217;s agreement with Baxalta Incorporated, a Takeda company, and MOVANTIK, under Nektar&#8217;s agreement with AstraZeneca AB. Under the terms of the new Purchase and Sale Agreement, HCR will pay Nektar an aggregate cash payment of\u00a0$150.0 million by December 31, 2020. Nektar intends to use the net proceeds of the transaction towards the funding of clinical trials for its early and late stage immune-oncology programs. For the nine-month period ended\u00a0September 30, 2020, Nektar recognized\u00a0$30.5 million\u00a0in aggregate royalties from net sales of ADYNOVATE and MOVANTIK. &#8220;This non-dilutive &hellip; Continue reading &quot;Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T13:33:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1390052\/nektar_logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million\",\"datePublished\":\"2020-12-22T13:33:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/\"},\"wordCount\":1056,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1390052\\\/nektar_logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\\\/\",\"name\":\"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/","og_locale":"en_US","og_type":"article","og_title":"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million - Market Newsdesk","og_description":"PR Newswire SAN FRANCISCO, Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Nektar Therapeutics (NASDAQ:\u00a0NKTR) today announced that it agreed to sell to entities managed by Healthcare Royalty Management, LLC (HCR) its royalties on future sales of ADYNOVATE, under Nektar&#8217;s agreement with Baxalta Incorporated, a Takeda company, and MOVANTIK, under Nektar&#8217;s agreement with AstraZeneca AB. Under the terms of the new Purchase and Sale Agreement, HCR will pay Nektar an aggregate cash payment of\u00a0$150.0 million by December 31, 2020. Nektar intends to use the net proceeds of the transaction towards the funding of clinical trials for its early and late stage immune-oncology programs. For the nine-month period ended\u00a0September 30, 2020, Nektar recognized\u00a0$30.5 million\u00a0in aggregate royalties from net sales of ADYNOVATE and MOVANTIK. &#8220;This non-dilutive &hellip; Continue reading \"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-22T13:33:37+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1390052\/nektar_logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million","datePublished":"2020-12-22T13:33:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/"},"wordCount":1056,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1390052\/nektar_logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-announces-agreement-with-healthcare-royalty-to-sell-adynovate-and-movantik-royalties-for-150-million\/","name":"Nektar Therapeutics Announces Agreement with Healthcare Royalty to Sell ADYNOVATE\u00ae and MOVANTIK\u00ae Royalties for $150 Million - 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