Brief: Valbiotis, Nestle Health Science Agree To Terminate Licensing and Supply Agreement

Valbiotis SA

04/06/2024 07:08

June 4 (Reuters) - Valbiotis SA  ALVAL.PA :
    * VALBIOTIS REACHES AN AGREEMENT TO TERMINATE ITS LICENSING
AND
SUPPLY AGREEMENT WITH NESTLE HEALTH SCIENCE
    * VALBIOTIS TAKES OVER ALL RIGHTS TO TOTUM•63, ITS UNIQUE
PLANT-BASED DIETARYSUPPLEMENT FOR TREATMENT OF PREDIABETES AND
EARLY STAGES OF TYPE 2 DIABETES
    * TAKES BACK ALL INTELLECTUAL PROPERTY RIGHTS (PATENTS,
KNOW-HOW
AND CLINICAL DATA) PERTAINING TO TOTUM•63, AFTER RECEIVING A
TOTAL OF 12.75 MILLION SWISS FRANCS IN FUNDING FROM NESTLE
HEALTH SCIENCE
    * TOTUM•63 IS POISED FOR DIRECT LAUNCH IN FRANCE IN FIRST
HALF OF
2025 AND WILL BE LAUNCHED INTERNATIONALLY VIA NEW PARTNERSHIPS
STILL TO BE FINALIZED
    * VALBIOTIS HAD A CASH POSITION OF EUR 25 MILLION AT END OF
DECEMBER 2023, THEREBY ENSURES COMPANY'S COMMERCIAL OBJECTIVES
FOR ITS DIETARY SUPPLEMENT PORTFOLIO

Source text for Workspace:  ID:nEQbz4qZXa 
Further company coverage:  ALVAL.PA 

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