Seres Therapeutics sells microbiome pill Vowst to Nestlé Health Science.
Seres Therapeutics has signed an agreement with its commercialization partner Nestlé Health Science to sell the remaining rights to its microbiome pill, Vowst, and focus on developing a second drug for transplant patients
The financial terms will not be disclosed until the deal has closed. But a “substantial upfront payment” from the sale will help extend the company’s cash runway by a year, into the fourth quarter of 2025. It will also allow Seres to pay off its $110 million debt, plus interest, to Oaktree Capital Management, which sent a notice of default to the company last month.
Despite the drug’s $17,500 list price the company has been selling it at a loss. Seres reported an $18.9 million net loss for 2023 on $19.6 million in sales that it split with Nestlé. The two companies first agreed to jointly develop and commercialize Vowst in 2021. Nestlé has led the sales effort since it was approved by the FDA in April last year, while Seres has made the drug.
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