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Exhibit 21.1

NEKTAR THERAPEUTICS
SUBSIDIARIES*

Name		Jurisdiction of Incorporation or Organization
Nektar Therapeutics AL, Corporation		Alabama
Nektar Therapeutics UK, Ltd.		United Kingdom
Inhale Therapeutic Systems Deutschland Gmbh		Germany
Inhale Therapeutic Systems, U.K. Limited		United Kingdom
Inhale 201 Industrial Road, L.P.		California
Shearwater Polymers, LLC		Alabama

*

Includes subsidiaries that do not fall under definition of "Significant Subsidiary" as defined under Rule 1-02(w) of Regulation S-X.

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NEKTAR THERAPEUTICS SUBSIDIARIES