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.