Seres Therapeutics announces signing of Vowst asset purchase agreement with Nestlé Health Science.
Seres Therapeutics, Inc. announced that it signed an agreement with Société des Produits Nestlé S.A (“Nestlé”) for the sale of its Vowst business to Nestlé Health Science
Upon deal closing, Seres will receive capital infusions, including an upfront payment, a prepaid milestone payment and an equity investment. In addition, Seres is due to receive installment payments in 2025, as well as potential future payments based on Vowst net sales targets. Seres will support ongoing Vowst availability by providing transition services through the first quarter of 2025 and manufacturing support through the end of 2025 (subject to limited extension rights by Nestlé) and will continue to share 50/50 in the profit and loss of the business through the end of 2025. The completion of the transaction, expected to occur in the next 90 days.
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