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Nestle Bets €40M On Enterome's Preclinical Food Allergy, IBD Hopeful

Benzinga Real-time News · Jul 18, 2022 15:00

NSRGY +0.02% TAK -1.12% NSRGF -0.65%

France-based Enterome signed a strategic R&D collaboration and license agreement with Nestlé SA's (OTC:NSRGF) Health Science, targeting food allergies and inflammatory bowel disease (IBD).
Enterome's internal pipeline is more focused on cancer, with phase 1/2 trials of two drug candidates underway in indications including recurrent glioblastoma and B-cell malignancies.
The biotech is also working on a Crohn's disease prospect that is in phase 2 development in partnership with Takeda Pharmaceutical Co Ltd (NYSE:TAK).
Now, Enterome has found a partner for its lead EndoMimics compound designed to create orally available drugs based on proteins secreted by gut bacteria.
Nestlé will pay €40 million in cash and equity, clinical, and sales milestone payments for each licensed therapeutic candidate, plus royalties on net sales.
Nestlé will co-develop EB1010 designed to treat inflammatory bowel disease by inducing high local secretion of the anti-inflammatory cytokine IL-10.
Enterome will be responsible for leading drug discovery activities and bear related costs up to the investigational new drug (IND) application.
EB1010 is due to enter clinical trials in 2023.
Price Action: NSRGF shares are down 0.20% at $117.43 during the market session on the last check Monday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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