FMT Seres Therapeutics, indebted and in need of cash, agrees to sell microbiome pill (Vowst) to Nestle (Jun 2024)

[Michael Harrop]

https://finance.yahoo.com/news/seres-indebted-cash-agrees-sell-110500909.html

Other coverage:

After lengthy road to FDA approval, Seres sells microbiome pill rights https://www.bizjournals.com/boston/news/2024/06/06/seres-sells-microbiome-pill-rights-to-pay-off-debt.html

Seres Therapeutics Enters Into Memorandum of Understanding For Vowst™ Asset Sale to Nestlé Health Science https://quantisnow.com/insight/seres-therapeutics-enters-into-memorandum-of-understanding-for-vowst™-asset-sale-to-nestlé-health-5540829

To pay off debt and stay open, Seres will sell microbiome pill to partner Nestlé (paywalled) https://endpts.com/seres-will-sell-microbiome-pill-to-partner-nestle-to-pay-off-debt-and-stay-open/

Nestlé Health Science agrees to acquire global rights to VOWST®, product it launched in June 2023 https://www.morningstar.com/news/pr-newswire/20240606ny32617/nestl-health-science-agrees-to-acquire-global-rights-to-vowst-product-it-launched-in-june-2023

Seres falls after Nestle's health arm to acquire fecal transplant pill https://www.xm.com/research/markets/allNews/reuters/seres-falls-after-nestles-health-arm-to-acquire-fecal-transplant-pill-53855148

Interesting news. Nestle is one of the most hated companies. The FDA's warning letter to Human Microbes came shortly after the approval of Vowst.