Nestlé Health Science is investing an additional $200 in California biopharma Aimmune Therapeutics as it prepares to launch a peanut allergy medicine.
Since entering into collaboration with Nestlé back in 2016, the Swiss multinational has invested $473 million in Aimmune to date. Nesltlé increased its ownership in Aimmune with a $98 million investment in November 2018.
The extra capital strengthens Aiummune’s financial position as it prepares to launch Palforzia, the first FDA-approved medicine for peanut allergy.
“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,” said Aimmune’s President and CEO, Jayson Dallas.
Greg Behar, CEO of Nestlé Health Science, added: “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.”