Move is believed to help company concentrate on therapeutic development.
Nektar Therapeutics cut approximately 150 positions in an effort to transition from a drug delivery service provider to a therapeutics drug development organization. The company also reported that Hoyoung Huh, M.D., Ph.D., will step down from his position as COO and join BiPar Sciences as president and CEO. Dr. Huh will also serve on Nektar’s board of directors.
“We are transforming Nektar into a world-class drug development company and these changes are a natural progression on the path to achieving this vision,” according to Howard W. Robin, president and CEO. “This restructuring aligns the organization with the future direction of our company and strengthens our ability to drive programs rapidly through the clinic.”
Nektar is preserving the necessary technical and manufacturing personnel and capabilities to support its efforts to form a new partnership for its inhaled insulin programs.