BioPharma Dive June 6, 2024
Nestle will take over full rights to the FDA-approved medicine after eight years of partnership with Seres.
Dive Brief:
- Seres Therapeutics plans to sell all the rights to its microbiome pill to Nestlé Health Science as it struggles to fund operations.
- Under a nonbinding memorandum of understanding announced Thursday, the Swiss company will acquire all the product and intellectual property rights to Vowst, which was approved in the U.S. in 2023 to prevent the recurrence of difficult-to-treat C. diff infections. Seres expects the transaction to close within 90 days.
- The company didn’t disclose exact financial terms for the deal, saying only that it would receive capital infusions including an upfront payment. Seres said it will use the money to...
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