Nektar Therapeutics Sells Alabama Manufacturing Facility and Reagent Business for $90 Million

Transaction Details:
Nektar Therapeutics has agreed to sell its 24,000 square-foot commercial manufacturing site in Huntsville, Alabama, along with its reagent arm, to Ampersand for $90 million.

Breakdown of the Deal:
The transaction includes $70 million in cash and a $20 million retained equity position for Nektar in a new Ampersand portfolio company.

Facility Capabilities:
The manufacturing site has equipment for producing PEGylated therapeutics, a key area of focus for Nektar.

Strategic Move:
This divestment is part of Nektar's strategic efforts to focus on its core business and optimize its operations.

Ampersand's Acquisition:
Ampersand, a private equity firm, will acquire the facility and reagent arm, expanding its portfolio in the biotechnology sector.