Seres Therapeutics Has Signed An Agreement With Société Des Produits Nestlé For The Sale Of Its VOWST Business To Nestlé Health Science. Seres Will Receive Capital Infusions, Including An Upfront Payment, A Prepaid Milestone Payment, And An Equity Investment
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Seres Therapeutics has signed an agreement with Société Des Produits Nestlé to sell its VOWST business to Nestlé Health Science. Seres will receive upfront payments, milestone payments, and an equity investment, along with installment payments in 2025 and potential future payments based on VOWST net sales targets. Seres will provide transition and manufacturing support through 2025 and will share 50/50 in the profit and loss of the business through the end of 2025.
August 06, 2024 | 11:58 am
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Seres Therapeutics has signed an agreement to sell its VOWST business to Nestlé Health Science, receiving upfront and milestone payments, an equity investment, and future payments based on sales targets. Seres will support the transition and manufacturing through 2025 and share in the profit and loss of the business.
The sale of the VOWST business to Nestlé Health Science provides Seres Therapeutics with immediate capital infusions and potential future revenue streams. The agreement also includes profit-sharing and support commitments, which could positively impact Seres' financial stability and growth prospects in the short term.
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