Business
Nektar Announces the Launch of Inheris Biopharma, Inc.
SAN FRANCISCO, May 23, 2019 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today announced the formation of Inheris Biopharma, Inc., a wholly-owned
About this update from Nektar Therapeutics
[{"type":"text","content":"SAN FRANCISCO, May 23, 2019 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today announced the formation of Inheris Biopharma, Inc., a wholly-owned subsidiary of Nektar and a CNS-focused company. Inheris will be responsible for launch preparation and commercialization for NKTR-181, a novel, first-in-class, investigational opioid molecule. NKTR-181 is currently under review with the U.S. Food and Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) target action date of August 29, 2019. Inheris will also lead development of several Nektar preclinical CNS assets.\nNektar also announced that Inheris has appointed Jay Galeota as President & Chief Executive Officer, Dr. Joe Stauffer as Chief Medical Officer and George Shiebler as Senior Vice President & General Counsel. The new company will be headquartered in northern New Jersey.\n\"We're excited to announce the formation of Inheris and the appointments of Jay, Joe and George, who we believe have the experience and track record to successfully launch and bring a novel, first-in-class medicine like NKTR-181 to patients,\" said Howard W. Robin, President and CEO of Nektar. \"Inheris will lead all of the preparations for the potential commercialization of NKTR-181, as well as development of other CNS programs, enabling Nektar to remain focused on advancing our immuno-oncology and immunology development pipeline.\" \nJay Galeota brings to Inheris more than three decades of industry experience, including a 28-year tenure at Merck & Co., where he held several leadership roles including Chief Strategy & Business Development Officer and President of Emerging Businesses. Prior to that, Jay was President of Hospital and Specialty Care at Merck. He most recently served as President of G&W Laboratories, a fully-integrated specialty pharmaceutical company, overseeing all business operations including research and development, commercial, manufacturing, business development and supply chain. Jay holds a B.S. in Biology from Villanova University and is a graduate of Harvard Business School's Advanced Management Program. \n\"I'm pleased to take the helm at Inheris,\" said Jay Galeota, President and Chief Executive Officer of Inheris. \"Launching a new company focused on bringing important CNS-focused innovations to patients in areas of high unmet medical ...