Nestle buys ex-U.S. rights to Seres compounds

Microbiome company Seres Therapeutics Inc. (NASDAQ:MCRB) granted the Nestle Health Science subsidiary of Nestle S.A. (SIX:NESN) exclusive commercialization rights to four Seres compounds outside of the U.S. and Canada. The deal includes SER-109 and SER-262 to treat Clostridium difficile infections, and SER-287 and SER-301 for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn's disease.

Seres received $120 million in cash up front and is eligible for $660 million in development, regulatory and commercial milestones and $1.1 billion in sales milestones, plus tiered royalties up to the high teens. ...