Jean-Luc Ichard/iStock Editorial via Getty Images Seres Therapeutics ( NASDAQ: MCRB ) announced Thursday it has reached a non-binding agreement to sell its FDA-approved microbiome therapy Vowst and related intellectual property rights to Nestlé Health Science, a unit of consumer care giant Nestle ( OTCPK:NSRGY ) ( OTCPK:NSRGF ). Vowst, developed by Seres ( MCRB ) in partnership with Nestlé Health Science, was approved by the FDA in 2023 as the first oral microbiome therapeutic to prevent repeat infections with C. difficile bacteria following antibiotic therapy.
The Cambridge, Massachusetts-based biotech expects to complete the transaction within the next 90 days, subject to the completion of definitive agreements, shareholder approval, and other conditions. In exchange, the company will receive capital injections, including an upfront payment, which it plans to use to reduce its debt load and strengthen its financial position. Seres ( MCRB ) noted that the proceeds are expected to further support the development of SER-155 and the company's other microbiome candidates.
The company added that its cash runway will extend to Q4 2025 once the deal is complete, subject to the outcome of a transition services agreement. More on Seres, Nestlé, etc. Nestle: Market Saturation And Cannibalization Problem Seres Therapeutics, Inc.
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