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Nektar Therapeutics Gets $20M in Daiichi Deal For Breast Cancer Drug

Xconomy San Francisco — 

San Francisco-based Nektar Therapeutics (NASDAQ: NKTR) has gotten $20 million from a unit of Japanese drugmaker Daiichi Sankyo in exchange for European rights to an experimental cancer drug called etirinotecan pegol (Onzeald). Nektar is developing the drug for patients with advanced breast cancer whose tumors have spread to the brain, and will file an approval application in Europe this month. Nektar could get another $60 million in downstream payments from Daiichi if the drug hits certain regulatory and sales targets.