Nektar Therapeutics (NKTR) announced on Monday its decision to divest its commercial-scale manufacturing facility in Alabama and its PEGylation reagent supply business. The assets will be sold to Ampersand Capital Partners for a total consideration of $90 million.
The biotechnology firm will receive $70 million in cash, with the remaining $20 million allocated as an equity interest in a newly established Ampersand portfolio company. Following the completion of this transaction, Nektar will have the opportunity to appoint a representative to the board of the new portfolio entity.
With the anticipated completion of the deal by December 2, Nektar projects that this transaction will bolster its financial position, potentially supporting its operations into the fourth quarter of 2026.
As of now, shares of Nektar are trading at $1.39 on the Nasdaq, reflecting a 12.38 percent increase.
