Nektar Therapeutics has sold some of its pulmonary delivery assets, technology, and intellectual property to Novartis for $115 million in cash. Novartis now owns "certain dry powder and liquid pulmonary formulation and manufacturing assets, including capital equipment and manufacturing facility lease obligations," according to a Nektar statement. The sale also transferred to Novartis approximately 140 Nektar personnel, as well as certain IP and manufacturing methods, including manufacturing and royalty rights to Novartis' Tobramycin inhalation powder (TIP) program.

Nektar continues to own its Bayer HealthCare-partnered program NKTR-061 (Amikacin Inhale) and royalties from the Ciprofloxacin inhaled powder program (CIP), also partnered with Bayer HealthCare. In addition, Nektar retains its NKTR-063 (inhaled vancomycin) program, as well as all intellectual property specific to inhaled insulin.

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