Nektar Restructures A Second Time, Focusing Squarely On Immunology

For the second time in just under a year, Nektar Therapeutics is restructuring, this time reducing headcount roughly 60% to about 55 people at its San Francisco headquarters, putting internal R&D emphasis on immunology and seeking to partner out its lead cancer candidate, the Phase II interleukin-15 (IL-15) receptor agonist NKTR-255. The biotech said on 17 April that it will prioritize development of IL-2-targeted rezpegaldesleukin (rezpeg) in autoimmune and inflammatory conditions regardless of whether partner Eli Lilly and Company continues its participation.

Nektar previously decided on 26 April 2022 to reduce headcount by 70% ahead of the expected departure of Bristol Myers Squibb Company from their 2018 collaboration around bempegaldesleukin (bempeg),...