Pharma BD Deal Intelligence
Shearwater's PEGylation platform became the backbone of Nektar's identity and funded two decades of partnered blockbusters, but the asset was eventually sold off piecemeal for a fraction of the value it helped create.
Full analysis, sources & comparables →The addition of this advanced PEGylation technology extends Inhale's portfolio of technologies and significantly expands Inhale's early and late stage human…
Completed the transaction on June 29, 2001... 'With the addition of Shearwater's advanced PEGylation technology platform, Inhale now can provide innovative,…
Pfizer's Somavert (pegvisomant), a PEGylated growth hormone receptor antagonist for acromegaly, validates the long-term commercial value of the Shearwater PEG…
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$72.5M cash + 4M shares ($119.2M); ~$191.7M total. PEGylation reagent platform; later spun into Nektar's PEG business. Sources show range $164M-$191.7M.
Shearwater's PEGylation platform became the backbone of Nektar's identity and funded two decades of partnered blockbusters, but the asset was eventually sold off piecemeal for a fraction of the value it helped create.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Inhale Therapeutic Systems Inc. / Shearwater Corporation (this deal) | 2001 | $192M | 73 |
| Inhale Therapeutic Systems Inc. / Bradford Particle Design plc (UK) | 2001 | $200M | 14 |
| Abbott Laboratories / Knoll Pharmaceutical Company (BASF Pharma) | 2001 | $6.9B | 100 |
| Vertex Pharmaceuticals Incorporated / Aurora Biosciences Corporation | 2001 | $592M | 95 |
| Amgen Inc. / Immunex Corporation | 2001 | $16.0B | 91 |
| Swedish Orphan Biovitrum AB / Biovitrum | 2001 | $493M | 84 |
| Barr Laboratories Inc. / Duramed Pharmaceuticals Inc. | 2001 | $589M | 82 |
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