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Aimmune Therapeutics shares rocket after Nestlé’s stake

Friday, November 4, 2016 11:41
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(Before It's News)

Nestlé’s (OTCMKTS:NSRGY) ADRs were up 0.3% at $72.64 on Friday after its health science division was reported to be spending $145mln to buy 15% of a US company developing therapies for life-threatening food allergies.

The investment by Swiss-based world’s largest food and drinks company in Aimmune Therapeutics (NASDAQ:AIMT) is the latest broadening of Nestlé’s healthy nutrition-based portfolio.

Nestlé Health Science and Aimmune hope to accelerate the development of oral immunotherapy biologics that desensitise people with food allergies and protect them from the consequences of accidental exposure .

An estimated 6mln people in the US and in Europe are affected by peanut allergies, one of the most common food allergies.

Aimmune shares were up 10.5% to $18.20 on Friday.

Story by ProactiveInvestors

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