Seres Therapeutics Entered Into A Non-binding Memorandum Of Understanding With Nestlé Health Science For The Sale Of Seres' VOWST Assets. Under The Terms Of The Pending Agreement, Seres Is Due To Receive Capital Infusions, Including An Upfront Payment
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Seres Therapeutics has entered into a non-binding memorandum of understanding with Nestlé Health Science for the sale of Seres' VOWST assets. The deal includes capital infusions and an upfront payment, which will help Seres retire its debt and extend its cash runway into Q4 2025. The company will focus on advancing SER-155 and other oral microbiome therapeutics.
June 06, 2024 | 10:33 am
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Seres Therapeutics has entered into a non-binding MOU with Nestlé Health Science for the sale of its VOWST assets. The deal includes capital infusions and an upfront payment, which will help Seres retire its debt and extend its cash runway into Q4 2025. The company will focus on advancing SER-155 and other oral microbiome therapeutics.
The capital infusion and upfront payment from the deal will significantly improve Seres' financial position by retiring debt and extending its cash runway. This financial stability, combined with a clear focus on advancing promising therapeutics, is likely to positively impact the stock price in the short term.
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