Nestlé to fully own Aimmune Therapeutics through $2bn deal

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Nestlé will take full ownership of Aimmune Therapeutics, the developer of FDA approved peanut allergy drug Palforzia, by acquiring the remaining stake of 74.4% in the latter for about $2 billion.

The deal is expected to help the Swiss conglomerate’s subsidiary Nestlé Health Science and Aimmune Therapeutics to create a global leader in the prevention and treatment of food allergy.

Palforzia is the first and only FDA-approved treatment for helping in lowering the frequency and severity of allergic reaction to peanuts, which includes anaphylaxis, in children aged between four and 17 years.

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Nestlé said that the transaction is an extension of Nestlé Health Science’s food allergy portfolio by creating a wider spectrum of solutions for children suffering from food allergies.

Greg Behar – Nestlé Health Science CEO said: “This transaction brings together Nestlé’s nutritional science leadership with one of the most innovative companies in food allergy treatment.

“Together we will be able to offer a wide range of solutions that can transform the lives of people suffering from food allergies around the world.”

Nestlé to fully own Aimmune Therapeutics through $2bn deal

Nestlé to fully own Aimmune Therapeutics through $2bn deal. Photo courtesy of Nestlé.

Nestlé had invested a total of $473 million in the California-based biopharma company. In November 2016, it acquired a stake of 15% for $145 million and in February 2020, made another major investment in Aimmune Therapeutics, of $200 million to increase its stake to 25.6%.

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Jayson Dallas – President and CEO of Aimmune Therapeutics said: “Delivering Palforzia, the world’s first treatment for food allergy, has been a game-changing proposition in the bio-pharmaceutical industry and is transformative for the lives of millions of people living with potentially life-threatening peanut allergy.

“This acquisition ensures a level of support for Palforzia and our pipeline that will further enhance their potential for patients around the world living with food allergies.”

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The deal, which is subject to the satisfaction or waiver of customary closing conditions, is likely to be wrapped up in Q4 2020.

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