NSRGY Nestle SA (PK)

By Chris Wack

Seres Therapeutics Inc. said it has entered into an agreement with Nestle Health Science to jointly commercialize SER-109, Seres' investigational oral microbiome therapeutic for recurrent Clostridioides difficile infection, in the U.S. and Canada.

Under the agreement, Nestle Health Science will use its global pharmaceutical business Aimmune Therapeutics and assume the role of lead commercialization party.

Seres will receive license payments of $175 million up front, and an additional $125 million upon U.S. Food and Drug Administration approval of SER-109. The agreement also includes sales target milestones which, if achieved, could total up to $225 million. Seres will be responsible for development and pre-commercialization costs in the U.S. Upon commercialization, Seres will be entitled to an amount equal to 50% of the commercial profits.

Nestle Health Science currently has commercial rights to Seres' investigational treatments for CDI and inflammatory bowel disease outside of the U.S. and Canada.

Seres Therapeutics shares were up 5% to $24.95 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

July 01, 2021 07:41 ET (11:41 GMT)

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