Nestle’s health science arm will pay $98 million to raise its stake in Aimmune Therapeutics, as the drug developer prepares to submit a marketing application for its peanut allergy treatment before the end of the year.
There is currently no approved treatment for peanut allergies on the U.S. market and the CA-based biotech hopes to be one of the first with its oral drug, AR101.
The deal gives Nestle a stake of about 19 percent in Aimmune; post-deal, Nestle will have invested $273 million in the biotech.
In Aimmune’s pivotal phase 3 PALISADE trial, AR101 demonstrated an encouraging tolerability and safety profile over the course of approximately one year of treatment, and approximately 80 percent of AR101 patients ages 4–17 completed the study. By the end of the study, more than 60 percent tolerated the highest dose of the exit food challenge.
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