Aimmune Shares Up; Nestle Health Science to Make Additional $200 Million Equity Investment
February 05 2020 - 1:14PM
Dow Jones News
By Michael Dabaie
Aimmune Therapeutics Inc. (AIMT) shares rose 5.4% to $30.97 in
midday trading.
The company said Wednesday that Nestle Health Science will make
an additional $200 million equity investment. The biopharmaceutical
company, focused on food allergies, said that brings Nestle's total
investment in Aimmune to date to $473 million.
The Nestle Health Science investment includes the purchase of 1
million shares of Aimmune common stock and 525,634 shares of
convertible preferred stock.
Nestle Health Science's total investments in Aimmune will
correspond to ownership of 19.9% of Aimmune's outstanding common
stock and voting power, and 25.6% overall stake in the company's
fully-diluted capitalization.
The company also said it obtained an exclusive worldwide license
to develop and commercialize the investigational humanized
monoclonal antibody XmAb7195 from Xencor Inc. (XNCR). XmAb7195,
which was renamed AIMab7195, was originally developed by Xencor for
the treatment of allergic asthma, Aimmune said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 05, 2020 12:59 ET (17:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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