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Seres Therapeutics Receives $50 Million Installment Payment from Sale of VOWST Business to Nestlé Health Science
Jan 16, 2025•over 1 year ago
Contract Type
contract
CambridgeBiotechnologyHealth CareTherapeutics
Description
Seres Therapeutics, Inc. announced the receipt of a $50 million installment payment related to the sale of its VOWST business to Nestlé Health Science. The payment was expected as Seres is fulfilling its transition obligations, enabling the company to fund operations into the first quarter of 2026.
Company Information
Company
Seres Therapeutics
Location
Cambridge, Massachusetts, United States
About
Seres Therapeutics, Inc. (Nasdaq: MCRB) is a commercial-stage company developing novel microbiome therapeutics for serious diseases. Seres’ lead program, VOWST™, obtained U.S. FDA approval in April 2023 as the first orally administered microbiome therapeutic to prevent recurrence of C. difficile infection (CDI) in adults following antibacterial treatment for recurrent CDI and is being commercialized in collaboration with Nestlé Health Science.
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CambridgeBiotechnologyHealth CareTherapeutics