Lilly returns REZPEG rights to Nektar
Nektar Therapeutics (Nasdaq: NKTR) has announced that it will be regaining the full rights to rezpegaldesleukin (REZPEG; NKTR-358) from Eli Lilly (NYSE: LLY) which concludes the two companies’ collaboration that begun in 2017.
The news was not a big surprise, as, in February, Nektar reported that a study of rezpegaldesleukin did not achieve its goals and that partner Lilly has decided not to proceed with Phase III development of the investigational treatment for systemic lupus erythematosus, sending its shares crashing 40%. Nektar’s shares only declined 2.6% to $0.79 on the news yesterday.
As previously announced, Nektar plans to move forward with REZPEG and will initiate a Phase IIb study in patients with moderate-to-severe atopic dermatitis in 2023. The company will also explore other auto-immune indications for the development plan for REZPEG.
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