Nestlé invests $145 million in food allergy therapeutics firm Aimmune
Shares of US biotech firm Aimmune Therapeutics (Nasdaq: AIMT) jumped more than 9% to $7.96 in early trading today, after it announced a lucrative deal with a unit of Nestlé (VTX: NESN), the world’s largest packed food company.
Aimmune, which is developing CODIT (Characterized Oral Desensitization ImmunoTherapy), an approach to treating life-threatening food allergies, says that Nestlé Health Science will make a $145.0 million equity investment in the company, an around 15% stake.
Aimmune and Nestlé Health Science also entered into a strategic collaboration agreement designed to enable the successful development and commercialization of innovative food allergy therapies. Aimmune will retain all current and future pipeline assets developed with the CODIT approach, including AR101, the company’s investigational oral biologic desensitization therapy for peanut allergy, which is currently in Phase III clinical development.
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