Seres Announces Collaboration With Nestlé Health Science - Quick Facts

(RTTNews) - Seres Therapeutics, Inc. (MCRB) announced it has entered into an agreement with Nestlé Health Science for the development and commercialization outside of the U.S. and Canada for its product candidates in development for Clostridium difficile infection and inflammatory bowel disease, including ulcerative colitis and Crohn's disease.

Seres granted Nestlé Health Science commercial rights in global markets outside of the U.S. and Canada to SER-109 and SER-262 for Clostridium difficile infection, and SER-287 and SER-301 for inflammatory bowel disease. Nestlé Health Science agreed to provide Seres with an upfront payment of $120 million and a series of contingent payments. Seres expects to receive a total of $30 million in milestone payments in 2016.

Seres said the full potential value of the up-front payment, milestones and royalties payable by Nestlé Health Science is over $1.9 billion, assuming all products receive regulatory approval and are successfully commercialized.