Nektar Therapeutics’ reagent manufacturing business sold, branded as Gannet BioChem

HUNTSVILLE — A keystone to Huntsville’s biotech and therapeutics industry has been sold.

Ampersand Capital Partners has closed on its acquistion of Nektar Therapeutics’ PEGylation reagent manufacturing business, according to a news release today.

The new Ampersand portfolio company will be branded Gannet BioChem and will continue to operate out of its state-of-the-art facility in Huntsville.

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases.

The sale, announced by Nektar and Apersand, includes Nektar’s commercial-scale manufacturing facility on Church Street in Huntsville 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.

All of Nektar’s Huntsville employees will be offered employment at the new portfolio company.

“This sale streamlines Nektar’s operations as we continue to focus on the future success and clinical advancement of rezpegaldesleukin and our other antibody-based immunology pipeline assets, including our TNFR2 antibody and bispecific programs,” said Howard W. Robin, president and CEO of Nektar Therapeutics.  “We believe Ampersand is an optimal partner to lead the manufacturing activities at the Huntsville facility. Importantly, Ampersand’s commitment to investing in the plant’s business will help ensure that Nektar’s existing commercial customers of PEGylation reagents will continue to be well served and will also provide uninterrupted access to a reliable supply of PEGylation reagents for Nektar’s needs.

“The sale also further extends Nektar’s cash runway into the fourth quarter of 2026.”

With more than 30 years of expertise, Gannet BioChem is a specialty CDMO provider in developing, scaling, and manufacturing polyethylene glycol (PEG) reagents – critical components in advanced biopharmaceutical and therapeutic products.

Gannet BioChem combines expertise and cutting-edge infrastructure to deliver these capabilities:

• End-to-End GMP Production: From raw material sourcing to manufacturing and packaging, ensuring exceptional quality and reliability across every stage of the supply chain.
• FDA-Approved Applications: Development and production of PEG reagents used in nine FDA-approved therapeutics over facility’s history.
• Commercial Impact: Supplying PEG reagents for several currently marketed drugs.
• Flexible Facility: Designed to efficiently handle small-scale and commercial-scale production needs.
• Expert Team: An experienced workforce with an average tenure of 13 years, ensuring consistent quality and innovation.
• Expansion-Ready Infrastructure: A 124,000 square-foot manufacturing facility with dedicated small and large-scale production areas and operational capacity for future growth.
• Strategic Location: Situated in Huntsville, Gannet BioChem benefits from its proximity to Cummings Research Park, the nation’s second-largest life sciences research park, providing a robust ecosystem for collaboration and innovation in biotechnology.
• Legacy of Quality: Gannet BioChem’s FDA-inspected facility maintains an exceptional compliance record, underlining its commitment to quality and reliability for customers worldwide.

“We are thrilled to introduce Gannet BioChem as a new, independent PEG reagents CDMO,” said David Anderson, general partner at Ampersand Capital Partners. “The PEG reagent manufacturing team at Gannet BioChem has a well-established track record and long history of delivering high-quality, specialized PEG reagents for commercial and clinical stage biologic therapeutics.  We are well-equipped to build on that legacy with the support of Ampersand’s resources and expertise in life sciences partnerships.

“Gannet BioChem is poised for continued success and strategic growth as a trusted partner to biopharmaceutical innovators globally.”