NSRGY Nestle SA (PK)

   By Colin Kellaher 
 

Aimmune Therapeutics Inc. (AIMT) on Monday said a unit of Swiss food giant Nestle SA (NESN.EB) will invest another $98 million in the company, raising its stake to about 19%, as the companies extend their collaboration on food-allergy therapies.

Aimmune, a Brisbane, Calif., biopharmaceutical company developing treatments for food allergies, said Nestle will buy 3.24 million newly issued shares at $30.27 apiece, roughly in line with Friday's closing price of $30.29, bringing Nestle's total investment to $273 million.

Aimmune said it inked a two-year extension of its original two-year deal with Nestle, adding that the agreement doesn't contain any partnership, collaboration or negotiation restrictions.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 12, 2018 08:48 ET (13:48 GMT)

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