Sunday, 19/5/2019 | 8:40 UTC+0

Nestle raises stake in food allergy drug developer Aimmune

A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018. REUTERS/Denis Balibouse

(Reuters) – The health science unit of Nestle SA would pay $ 98 million to increase its stake in Aimmune Therapeutics Inc, the drug developer for food allergies said on Monday.

The latest investment raises Nestle’s ownership of Aimmune to about 19 percent. The companies also extended their two-year strategic collaboration to develop therapies for food allergy by another two years, Aimmune said.

Reporting by Tamara Mathias in Bengaluru

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