Nektar, Bayer in antibiotic venture
From Times Wire Services
Nektar Therapeutics Inc., whose Exubera inhaled insulin drug has failed to capture much interest, said it had signed an agreement with Bayer to jointly develop an inhaled antibiotic.
Leverkusen, Germany-based Bayer will pay $50 million upfront and then as much as $125 million more to Nektar as the firms meet clinical and regulatory milestones.
San Carlos, Calif.-based Nektar’s product, NKTR-061, is in midstage clinical trials to treat hospital-acquired pneumonia.
