Small BusinessNektar, Astrazenca sign licensing agreement
Nektar Therapeutics today said it has entered into a licensing agreement with multinational drug firm Astrazenca for developing two drugs for the treatment of constipation and pain, which could fetch it up to $375 million.
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Under the agreement, Nektar will receive an upfront payment of $125 million for both compounds and it can get a payment of up to $235 million on achieving certain regulatory milestones.
The company may get payments of up to $375 million if the product achieves considerable commercial success.
"Nektar will also be eligible to receive significant double-digit royalty payments on sales of NKTR-118 worldwide," the company said.
NKTR-118, is being developed for the treatment of constipation using opium-based pain relieving products and NKTR-119 for treatment of pain without constipation. The agreement is, however, subject to review by the US authorities.
Nektar is headquartered in San Carlos, California and has a research and development facility in India.