Seres Therapeutics in Commercialization Pact With Nestle Health Science
July 01 2021 - 7:49AM
Dow Jones News
By Chris Wack
Seres Therapeutics Inc. said it has entered into an agreement
with Nestle Health Science to jointly commercialize SER-109, Seres'
investigational oral microbiome therapeutic for recurrent
Clostridioides difficile infection, in the U.S. and Canada.
Under the agreement, Nestle Health Science will use its global
pharmaceutical business Aimmune Therapeutics and assume the role of
lead commercialization party.
Seres will receive license payments of $175 million up front,
and an additional $125 million upon U.S. Food and Drug
Administration approval of SER-109. The agreement also includes
sales target milestones which, if achieved, could total up to $225
million. Seres will be responsible for development and
pre-commercialization costs in the U.S. Upon commercialization,
Seres will be entitled to an amount equal to 50% of the commercial
profits.
Nestle Health Science currently has commercial rights to Seres'
investigational treatments for CDI and inflammatory bowel disease
outside of the U.S. and Canada.
Seres Therapeutics shares were up 5% to $24.95 in premarket
trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 01, 2021 07:41 ET (11:41 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Nestle (PK) (USOTC:NSRGY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nestle (PK) (USOTC:NSRGY)
Historical Stock Chart
From Sep 2023 to Sep 2024