Nestlé Health Science has agreed to acquire Aimmune Therapeutics, a peanut allergy treatment maker, in a deal worth approximately $2.6 billion.
Founded in 2011, Aimmune is a biopharmaceutical company which develops and commercialises treatments for patients with food allergies.
The firm claims that its recently approved therapy Palforzia is the first and only FDA-approved treatment to help reduce the frequency and severity of allergic reaction to peanuts, including anaphylaxis, in children aged 4-17.
With the merger, Nestlé Health Science aims to create a global leader in food allergy prevention and treatment and create a wider offering of solutions for children living with food allergies.
“This transaction brings together Nestlé’s nutritional science leadership with one of the most innovative companies in food allergy treatment. Together we will be able to offer a wide range of solutions that can transform the lives of people suffering from food allergies around the world,” said Nestlé Health Science CEO Greg Behar.
Nestlé Health Science first invested in Aimmune in November 2016, before making additional investments and taking its ownership stake to 25.6% for a total of $473 million.
Under the terms of the agreement, Nestlé’s wholly-owned subsidiary, Société des Produits Nestlé SA, will commence a cash tender offer to acquire all outstanding shares of Aimmune common stock that are not already owned by Nestlé Health Science, representing a total enterprise value of approximately $2.6 billion.
Jayson Dallas, managing director, president and CEO of Aimmune, said: “Delivering Palforzia, the world’s first treatment for food allergy, has been a game-changing proposition in the bio-pharmaceutical industry and is transformative for the lives of millions of people living with potentially life-threatening peanut allergy.
“This acquisition ensures a level of support for Palforzia and our pipeline that will further enhance their potential for patients around the world living with food allergies.”
The deal marks the latest in a series of acquisitions by Nestlé Health Science including IM HealthScience and Vital Proteins, a producer of collagen-based beverages, food products and supplements.
The transaction, which is subject to customary conditions and regulatory approvals, is expected to close in the fourth quarter of 2020.
© FoodBev Media Ltd 2020