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Aimmune (AIMT) Closes $145 Million Investment By Nestlé Health Science



11/28/2016 8:12:42 AM

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BRISBANE, Calif.--(BUSINESS WIRE)--Aimmune Therapeutics, Inc. (Nasdaq:AIMT), a biopharmaceutical company developing CODIT™ (Characterized Oral Desensitization ImmunoTherapy) treatments for life-threatening food allergies, today announced the closing of the $145 million equity investment by Nestlé Health Science. Nestlé Health Science purchased 7,552,084 shares of Aimmune's common stock at $19.20 per share on November 23, 2016, in a private placement transaction. The sale of shares was made pursuant to the terms of the Securities Purchase Agreement entered into on November 3, 2016, by Aimmune and Nestlé Health Science, as previously reported by Aimmune. In connection with the closing of the equity investment, Greg Behar, Chief Executive Officer of Nestlé Health Science, was appointed to Aimmune’s board of directors on November 23, 2016. Aimmune has a total of 50,044,727 shares of common stock outstanding after taking into account the shares issued to Nestlé Health Science.

Additional details regarding the equity investment and strategic collaboration agreement can be found in Aimmune's Form 8-K filed with the Securities and Exchange Commission on November 4, 2016.

About Aimmune Therapeutics

Aimmune Therapeutics, Inc., is a clinical-stage biopharmaceutical company developing treatments for life-threatening food allergies. The company’s Characterized Oral Desensitization ImmunoTherapy (CODIT™) approach is intended to achieve meaningful levels of protection by desensitizing patients with defined, precise amounts of key allergens. Aimmune’s first investigational product using CODIT™, AR101 for the treatment of peanut allergy, has received the FDA’s Breakthrough Therapy Designation for the desensitization of peanut-allergic patients 4-17 years of age and is currently being evaluated in Phase 3 clinical trials in ages 4-55. AR101 is a characterized, regulated, oral biological drug product containing the protein profile found in peanuts. For more information, please see www.aimmune.com.

This press release concerns a product that is under clinical investigation and that has not yet been approved for marketing by the U.S. Food and Drug Administration (FDA) or the European Medicines Agency (EMA). It is currently limited to investigational use, and no representation is made as to its safety or effectiveness for the purposes for which it is being investigated.

Contacts

Aimmune Therapeutics, Inc.
Investors
Laura Hansen, Ph.D., 650-396-3814
lhansen@aimmune.com
or
Media
Stephanie Yao, 650-351-6479
syao@aimmune.com


Read at BioSpace.com


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