Exhibit 23.1
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption "Experts" in the Registration Statement (Form S-3) and related Prospectus of Nektar Therapeutics for the registration of $59,279,000 of 3% Convertible Subordinated Notes due June 30, 2010 and 5,222,819 shares of common stock into which the notes are convertible, and to the incorporation by reference of our report dated January 17, 2003, with respect to the consolidated financial statements of Nektar Therapeutics (formerly Inhale Therapeutic Systems, Inc.) included in its Annual Report (Form 10-K/A) for the year ended December 31, 2002, filed with the Securities and Exchange Commission.
/s/ ERNST & YOUNG LLP
Palo Alto, California
November 19, 2003
