February 5, 2020 / 1:25 PM / 5 months ago

Nestle raises stake in Aimmune after peanut allergy therapy approval

Feb 5 (Reuters) - Aimmune Therapeutics Inc said on Wednesday the health science arm of Nestle SA will invest an additional $200 million in the drugmaker, bringing the Swiss company’s total investment to $473 million.

The investment, which sent Aimmune shares up 11.7% in premarket trading, comes days after the company won U.S. approval for the first therapy intended to reduce and potentially eliminate allergic reactions to peanuts in children.

The company said Nestle’s total investment will amount to 19.9% of Aimmune’s outstanding common stock and voting power and 25.6% stake in its fully-diluted capitalization. (Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Arun Koyyur)

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