Seres to sell bacterial infection drug to Nestle Health for an undisclosed sum (updated)

Seres Therapeutics

06/06/2024 11:54

(Adds details on the deal and background)
       June 6 (Reuters) - Seres Therapeutics  MCRB.O  said on
Thursday it has entered into a non-binding memorandum of
understanding with Nestlé Health Science for the sale of its
bacterial infection drug and related intellectual property
rights. 
        Under the terms of the pending agreement, Seres is due
to receive capital infusions, including an undisclosed upfront
payment.
  
        The U.S. Food and Drug Administration last year 
    approved
     the company's pill, Vowst, for treating adults with a type
of bacterial infection generally caused by he prolonged use of
antibiotics. 
  
        Seres entered into a deal with Nestle's health science
unit in 2021 to jointly commercialize the drug in the United
States.
    The drugmaker expects to complete the transaction within the
next 90 days, subject to approval for certain customary
conditions.

 (Reporting by Pratik Jain in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((Pratik.Jain@thomsonreuters.com;))