Bristol-Myers Squibb Co.'s high-priced deal with Nektar Therapeutics around developing NKTR-214 in multiple tumor types pushes a new mechanism into the limelight, suggesting potential for big changes in the immuno-oncology landscape.
The companies agreed in a deal announced Feb. 14 to greatly expand their collaboration for the development of the Interleukin-2 (IL-2)-targeting NKTR-214 with Bristol's PD-1 inhibitor Opdivo (nivolumab) and CTLA-4 inhibitor Yervoy (ipilimumab). Bristol will pay Nektar almost $1.85bn upfront, including $1bn in cash and an $850m equity investment, plus up to $1.78bn in milestone fees
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