(Adds details on stake, licensed therapy from Xencor)
Feb 5 (Reuters) – Aimmune Therapeutics Inc said on
Wednesday the health science arm of Nestle SA will
invest an additional $200 million in the drugmaker, bringing
the Swiss company’s total investment to $473 million.
The investment, which sent Aimmune shares up 11.7% in
premarket trading, comes days after the company won U.S.
approval for the first therapy intended to reduce and
potentially eliminate allergic reactions to peanuts in children.
[nL4N2A05DW]
As packaged food sales slow amid changing tastes, Nestle has
been trying to become a “nutrition, health and wellness”
company, with its unit, Nestle Health Science, playing a pivotal
role.
The unit had invested $145 million in Aimmune in 2016,
followed by $30 million as part of Aimmune’s public offering in
February 2018, and another $98 million in November 2018.
Aimmune said Nestle’s total investment will amount to 19.9%
of its outstanding common stock and voting power and 25.6% stake
in its fully diluted capitalization. [nBw5cT56sa]
Separately, the Brisbane, California-based company said it
had obtained a worldwide license to an experimental therapy for
allergic asthma from Xencor Inc for an upfront payment
of $5 million in cash and $5 million in equity.
Aimmune said Nestle’s additional investment would help fund
the development of the therapy licensed from Xencor as well as
the company’s launch of peanut allergy drug Palforzia.
(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Arun
Koyyur and Maju Samuel)
(([email protected]; within U.S. +1 646 223
8780, outside U.S. +91 80 6182 2676; Twitter: @SaumyaSibi;))
Keywords: AIMMUNE NESTLE/STAKE (UPDATE 1)
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