Seres Therapeutics Enters Into Memorandum of Understanding For Vowst™ Asset Sale to Nestlé Health Science
2024年6月6日 - 7:30PM
Seres Therapeutics, Inc. (Nasdaq: MCRB), a leading microbiome
therapeutics company, today announced that it has entered into a
non-binding memorandum of understanding with Nestlé Health Science
for the sale of Seres’ VOWST assets that will provide Nestlé Health
Science with full VOWST product and related intellectual property
rights. Under the terms of the pending agreement, Seres is due to
receive capital infusions, including an upfront payment. Seres
expects to complete the transaction within the next 90 days,
subject to the negotiation of definitive agreements, Seres’
shareholder approval, and other customary conditions.
“We are proud of our success in bringing VOWST to patients as
the first ever FDA-approved oral microbiome therapy, and following
the anticipated transaction close, we will continue to work with
Nestlé Health Science and our other partners to ensure a seamless
transition and ongoing product availability,” said Eric Shaff,
President and Chief Executive Officer of Seres. “We plan to use the
capital from this pending transaction to retire our existing debt
facility and strengthen our balance sheet. These actions enable the
Company to enter an exciting next phase as we move SER-155 and
other wholly-owned cultivated microbiome therapeutic candidates
forward to important milestones and we look forward to discussing
these programs in greater detail later this year. Seres’
therapeutic candidates could benefit multiple underserved patient
groups, including those with chronic liver disease, cancer
neutropenia, and solid organ transplants. Our approach could
protect millions of medically vulnerable patients from
life-threatening infections while addressing the global public
health issue of antimicrobial resistance (AMR).”
In July 2021, Seres entered a license agreement with Nestlé
Health Science that granted a co-exclusive license to develop and
commercialize VOWST. In April 2023, VOWST obtained FDA approval to
prevent the recurrence of Clostridioides difficile infection (CDI)
in adults following antibacterial treatment for recurrent CDI
(rCDI), followed by commercial launch in June 2023 led by Nestlé
Health Science. Under the pending agreement, Nestlé Health Science
will obtain full ownership of the product. Seres will support the
full transition of VOWST to Nestlé Health Science and continuity of
the supply chain through a customary transition service
agreement.
Seres expects to use the capital from this transaction to fully
retire its senior secured debt facility with Oaktree Capital
Management, and support the further advancement of SER-155 and its
other cultivated microbiome product candidates. Based on Seres'
current cash, its future operating plans, and the capital expected
to be obtained from the transaction, the Company anticipates being
able to extend its cash runway into Q4 2025, subject to performance
under the transition services agreement.
About Seres TherapeuticsSeres Therapeutics,
Inc. (Nasdaq: MCRB) is a commercial-stage company developing novel
microbiome therapeutics for serious diseases. VOWST™ obtained U.S.
FDA approval in April 2023 as the first orally administered
microbiome therapeutic to prevent recurrence of C. difficile
infection (CDI) in adults following antibacterial treatment for
recurrent CDI and is being commercialized in collaboration with
Nestlé Health Science. Seres is evaluating SER-155 in a Phase 1b
study in patients receiving allogeneic hematopoietic stem cell
transplantation. SER-155 has potential to reduce the incidence and
severity of gastrointestinal and related bloodstream infections,
and the incidence of acute graft-versus-host disease. For more
information, please visit www.serestherapeutics.com.
Forward-Looking Statements This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this press release that do not relate
to matters of historical fact should be considered forward-looking
statements, including statements about the financial terms, timing
and likelihood of completing the sale of VOWST assets to Nestle;
the sufficiency of cash and meeting terms of the agreement to fund
operations; the use of proceeds of the transaction, including the
ability to retire our senior secured debt facility; the timing and
results of our clinical studies; future product candidates,
development plans and commercial opportunities; operating plans and
our future cash runway; and other statements which are not
historical fact.
These forward-looking statements are based on
management’s current expectations. These statements are neither
promises nor guarantees, but involve known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements, including, but not
limited to, the following: we have incurred significant losses, are
not currently profitable and may never become profitable; our need
for additional funding; our history of operating losses; the
restrictions in our debt agreement; our novel approach to
therapeutic intervention; our reliance on third parties to conduct
our clinical trials and manufacture our product candidates; the
competition we will face; our ability to protect our intellectual
property; and our ability to retain key personnel and to manage our
growth. These and other important factors discussed under the
caption “Risk Factors” in our Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission (SEC), on May 8, 2024,
and our other reports filed with the SEC could cause actual results
to differ materially from those indicated by the forward-looking
statements made in this press release. Any such forward-looking
statements represent management’s estimates as of the date of this
press release. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation
to do so, even if subsequent events cause our views to change.
These forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
Investor and Media
Contacts:IR@serestherapeutics.com
Carlo Tanzi, Ph.D.Kendall Investor
Relationsctanzi@kendallir.com
Seres Therapeutics (NASDAQ:MCRB)
過去 株価チャート
から 5 2024 まで 6 2024
Seres Therapeutics (NASDAQ:MCRB)
過去 株価チャート
から 6 2023 まで 6 2024