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news.Nestlé Health Science has increased its stake in biopharmaceutical firm Aimmune Therapeutics by making an additional equity investment of $98m.
Image: Nestlé Health Science has increased stake in Aimmune Therapeutics. Photo: courtesy of rawpixel / Unsplash.
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Aimmune Therapeutics is engaged in the development of advanced treatments for life-threatening food allergies.
The latest investment brings Nestlé’s total investment in the drug developer for food allergies to $273m.
In November 2016, Nestlé Health Science first invested $145m in Aimmune. In February 2018, the company invested $30m, as part of its public offering.
Both firms have also entered into a two-year extension of their original two-year strategic collaboration deal, which is focused on providing advanced food allergy therapies.
The deal is said to not contain any partnership, collaboration, or negotiation restrictions on Aimmune.
Aimmune holds all rights to its current and future pipeline assets, while Aimmune and Nestlé Health Science will collaborate on development of such assets.
Subject to customary closing conditions, the equity investment is expected to be completed by the end of 2018.
Nestlé Health Science CEO Greg Behar said: “We’re proud to reaffirm our strong strategic interest in Aimmune and the important progress they have made toward addressing the significant unmet needs in pediatric food allergy.”
Aimmune’s characterized oral desensitization immunotherapy (CODIT) approach is designed to offer protection against allergic reactions resulting from accidental exposure to food allergens by desensitizing patients with defined and precise amounts of key allergens.
The firm’s AR101, which is the first investigational biologic product that used CODIT, secured breakthrough therapy designation from the FDA for the desensitization of peanut-allergic patients aged between four years and 17 years.
Based on data from the pivotal phase 3 Palisade clinical trial of AR101, Aimmune intends to submit regulatory filings for marketing approval of AR101.
Aimmune president and CEO Jayson Dallas said: “Nestlé Health Science has been a tremendous ally as we lead the way into the new field of food allergy treatment.
“Their expertise in the pediatric space and their insights as a premier consumer health and medical nutrition products company have advanced our thinking and will help with critical planning as we anticipate launching AR101.”
