Sector News

Pronutria announces $42.5 million investment from Nestlé Health Science

February 24, 2016
Life sciences

Pronutria Biosciences Inc., a biotechnology company pioneering first-in-class medicines for serious conditions linked to amino acid imbalances, announced today that it has completed a $42.5 million investment by Nestlé Health Science.

The proceeds from this financing will help to fund the ongoing rapid transformation of the company from a unique and revolutionary platform to late stage clinical candidates in several disease indications.

“We are delighted with the support from Nestlé Health Science and recognition of the rapid progress we have made towards the clinic with several lead candidates,” said Robert Connelly, President and CEO of Pronutria. “We intend to demonstrate the breadth of our technology by expanding the existing muscle, neurological and liver disease programs.”

“We are forging an innovation frontier for nutritional therapy in healthcare and the paradigm-changing science at Pronutria is a perfect fit for our goals of improving patient health with new approaches that have broad application,” said Greg Behar, Nestlé Health Science CEO. Alongside the investment he will join the Pronutria board of directors.

“Our experience with Nestlé Health Science is that they are an excellent and committed partner with an innovative vision of the future of patient care,” said Dr. Noubar Afeyan, CEO of Flagship Ventures, and co-founder and Chairman of Pronutria. “We look forward to working closely with them to expand this relationship for generating meaningful patient and economic value.”

Source: Pronutria

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach