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

BusinessBelgiumSpain

31.07.2015 Spanish business developer Genetrix has sold its clinical stage cell therapy development subsidiary Coretherapix to Belgian TiGenix in a deal worth up to €267m.

BusinessUKSwitzerland

29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.

M&AIreland

28.07.2015 Irish Allergan is bolstering its product pipeline with a takeover of CNS specialist Naurex. At the same time, the company is divesting its global generics business to Teva.

Public marketGermanyFranceBelgiumFinlandDenmarkUK

24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.

FinanceFrance

23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.

BioplasticsFrance

21.07.2015 French biotech Deinove has launched a R&D programme to produce the versatile chemical intermediate muconic acid by using a designer variant of the Deinococcus bacteria.

BusinessFrance

16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.

R&DUK

15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.

FundingUK

13.07.2015 UK drug developer ReNeuron has pulled in £68.4m (€96m) for its cell therapy pipeline for stroke and blindness treatments. Biotech guru Neil Woodford increases his fund’s stake in ReNeuron.

BusinessSweden

10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOTIE THERAPEUTICS (FI)0.23 EUR43.75%
  • DIAXONHIT (F)0.79 EUR14.49%
  • ACTIVE BIOTECH (S)12.35 SEK10.27%

FLOP

  • ZELTIA (E)3.69 EUR-8.44%
  • SWEDISH ORPHAN BIOVITRUM (S)13.05 USD-6.12%
  • ALMIRALL (E)17.75 EUR-5.84%

TOP

  • DBV TECHNOLOGIES (F)79.24 EUR46.0%
  • IXICO (UK)34.00 GBP44.7%
  • BIOTIE THERAPEUTICS (FI)0.23 EUR43.8%

FLOP

  • BIOTEST (D)25.52 EUR-63.6%
  • BIOTECH PHARMACON (N)9.45 NOK-46.0%
  • TRANSGENE (F)2.87 EUR-24.5%

TOP

  • ADOCIA (F)86.78 EUR577.4%
  • FORMYCON (D)28.40 EUR323.2%
  • DBV TECHNOLOGIES (F)79.24 EUR317.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-88.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)22.10 SEK-70.6%
  • NEOVACS (F)1.02 EUR-68.6%

No liability assumed, Date: 01.08.2015