Nektar sells its PEGylation reagent manufacturing business
California, USA-based biotech Nektar Therapeutics’ (Nasdaq: NKTR) shares closed up more than 8% at $1.33 yesterday after it announced the sale of its only manufacturing facility.
Nektar said it has entered into a definitive agreement to sell its Huntsville, Alabama manufacturing facility and reagent supply business to Ampersand Capital Partners, a Boston, USA-based private equity firm with a decades-long track record of investing in life sciences and healthcare companies, including contract manufacturing and pharma services businesses.
Ampersand has agreed to acquire Nektar's commercial-scale manufacturing facility and PEGylation reagent supply business for a total consideration of $90 million, comprised of 70 million in cash proceeds and $20 million in a retained equity position for Nektar in a newly-created Ampersand portfolio company.
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