News

Nestlé forms Joint Venture
Enlarge image

BusinessSwitzerland

Nestlé forms Joint Venture

29.11.2012 - Nestlé Health Science SA and Chi-Med have agreed to form a 50/50 joint venture, to be named Nutrition Science Partners Limited.

The Swiss entity and the subsidiary of Hutchinson Whampoa Ltd. (Hong Kong) will fuse their knowledge in drug development and nutrition to develop and market nutritional healthcare products for gastrointestinal indications (GI) which can be extended to metabolic and brain health areas in the future. Under the terms of the agreement, the Nestlé subsidiary will make an initial capital investment in return for the its 50% shareholding in Nutrition Science Partners. Chi-Med in turn will provide exclusive rights to screen its botanical compound library, and its botanical R&D platform. Chi-Meds library contains more than 1,500 purified natural products and over 50,000 plant extracts from some 1,200 diverse medicinal plants.  

 “This Joint Venture provides Nestlé Health Science with an opportunity to develop and commercialise truly innovative and scientifically validated botanical based nutrition solutions for personalised healthcare in gastrointestinal health. Whilst Nestlé Health Science will bring unique competencies in nutritional sciences, diagnostics and commercial capabilities, Chi-Med will provide their best-in-class Traditional Chinese Medicine library and discovery platform, which will be the basis of Nutrition Science Partner’s future GI pipeline.“

The new company will also initiate Phase III trails in 2013 with HMPL-004, the lead candidate of Chi-Med’s subsidiary Hutchinson MediPharma Ltd., in 2,700 patients with inflammatory bowel diseases such as Morbus Crohn and Colitis ulcerosa. Nutrition Science Partners will be funded through Nestlé Health Science’s investment and milestone payments. Louis Cantarell will bet he Chairman of the company, and Christian Hogg will be both Director and General Manager.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2012-04/nestle-forms-joint-venture.html

GenericsEUUKHungaryGermanyItalyGreeceAustriaLuxembourgFranceSpain

26.02.2015 It is the first biosimilar monoclonal antibody in many European markets: Mundipharma and Hospira are launching Celltrion’s Remicade generic.

M&AUK

23.02.2015 British drug developer Heptares has been acquired by Japanese biopharma play Sosei for US$400m (€352m).

bioethanolGermanyUKBelgiumFrance

19.02.2015 The price of oil has been sliding for months, and the European bioethanol market is taking it hard. CropEnergies AG has now stopped production at its British unit Ensus UK.

BusinessFranceGermany

17.02.2015 After Christopher Viehbacher’s unceremonious ousting last year, Sanofi has been on the look out for a new CEO. Now, sources say Bayer’s Olivier Brandicourt is set to fill the position.

BusinessUKSwitzerland

12.02.2015 Glaxosmithkline is intent on bolstering its vaccine portfolio further and has bought all shares of Swiss development partner Glycovaxyn.

InvestmentsUKEU

10.02.2015 Interest in biotechnology is on the rise among British investors. Not just one, but two major financiers are planning investment funds in the field.

IVFUKEU

04.02.2015 In a historic move, the UK is set to become the first country to allow the creation of babies with the genetic material of three people – a mother, a father and a female mitochondrial donor.

Events

All Events

Partner-Events

Planegg/Martinsried

1st Munich Biotech Pitch

Berlin (DE)

Proteomic Forum 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • EVOLVA1.67 CHF7.74%
  • VITA 345.75 EUR6.48%
  • PAION2.15 EUR4.37%

FLOP

  • WILEX3.16 EUR-7.87%
  • MAGFORCE5.65 EUR-1.74%
  • FORMYCON16.51 EUR-1.14%

TOP

  • WILEX3.16 EUR58.0%
  • THERAMETRICS0.07 CHF16.7%
  • BASILEA121.50 CHF16.6%

FLOP

  • SANTHERA96.00 CHF-16.8%
  • 4SC0.79 EUR-13.2%
  • MOLOGEN5.40 EUR-10.9%

TOP

  • SANTHERA96.00 CHF2426.3%
  • WILEX3.16 EUR435.6%
  • FORMYCON16.51 EUR104.3%

FLOP

  • CYTOS0.34 CHF-88.5%
  • MOLOGEN5.40 EUR-55.6%
  • BIOFRONTERA1.90 EUR-51.8%

No liability assumed, Date: 02.03.2015