Nestlé increases stake in Aimmune Therapeutics after Palforzia FDA approval
Aimmune Therapeutics, which has recently bagged approval from the US Food and Drug Administration (FDA) for its peanut allergy drug PALFORZIA (formerly AR101), has secured an additional equity investment of $200 million from Nestlé Health Science.
Based in California, Aimmune Therapeutics has been focused on the development and commercialization of treatments for potentially life-threatening food allergies.
Jayson Dallas – President and CEO of Aimmune Therapeutics said: “Nestlé Health Science has been an important equity investor and strategic partner to Aimmune since we entered into our original collaboration in 2016, and we are grateful for their ongoing commitment toward our mutual goal of developing innovative therapies for food allergies.
“This additional capital strengthens our financial position as we prepare to launch PALFORZIA, the first FDA-approved medicine for peanut allergy in the U.S. In addition, this capital will help fund the continued advancement of our pipeline, including conducting clinical trials of AIMab7195 which we recently in-licensed from Xencor.”
Read more about PALFORZIA FDA approval here.
The Nestlé subsidiary has taken its total investment in Aimmune Therapeutics to $473 million till date, while increasing its stake in the latter to 25.6%. Nestlé Health Science’s first investment in the California-based biopharmaceutical company was in November 2016 of $145 million for a 15% stake.
In February 2018, Nestlé Health Science invested $30 million as part of Aimmune Therapeutics’ public offering. In November 2018, Nestlé Health Science increased its stake in the US pharma company to 19% through a $98 million investment.
Greg Behar – CEO of Nestlé Health Science said: “Our collaboration with Aimmune aligns with our mission to provide innovative nutritional health solutions that are supported by science and research.
“We are impressed with the progress Aimmune has made as it prepares to launch PALFORZIA, the first drug approved by the FDA for any form of food allergy. As part of our ongoing commitment to the advancement of science-based nutritional health solutions, our further investment in Aimmune is intended to help assure PALFORZIA’s longer-term commercial success and allow Aimmune to continue making significant development advances in the field of food allergy treatments.”
PALFORZIA is an oral immunotherapy, that has been approved by the FDA for lessening the severity of anaphylaxis and other allergic reactions, that could result from accidental exposure to peanuts.
Last month, Nestlé Health Science signed a deal with Allergan to acquire the latter’s gastrointestinal medication Zenpep (pancrelipase) and another pancreatic enzyme preparation called Viokace for an undisclosed price.