Nestle Health Science buying Aimmune for $2.6B

Nestle Health Science, which has its U.S. headquarters in Bridgewater, will acquire Aimmune Therapeutics Inc., a biopharmaceutical company specializing in food allergy treatments, for approximately $2.6 billion.

Aimmune’s Palforzia is the only FDA-approved treatment to help reduce the frequency and severity of peanut reactions in children, NHSc parent Nestle said Monday in a news release. The deal would see Nestle pay about $34.50 per share of common stock in cash for the approximate three-quarters portion of Aimmune the company does not already own.

“This transaction brings together Nestle’s nutritional science leadership with one of the most innovative companies in food allergy treatment,” NHSc CEO Greg Behar said in a prepared statement. “Together, we will be able to offer a wide range of solutions that can transform the lives of people suffering from food allergies around the world.”

The price represents a 174% premium to Aimmune’s closing share price of $12.60 on Friday. Nestle currently owns approximately 25.6% of the company, at a total investment of $473 million over four funding rounds.

“The agreement with Nestle Health Science recognizes the value created by years of commitment and dedication to our mission by the team at Aimmune,” CEO and President Dr. Jayson Dallas said in a statement. “Delivering Palforzia, the world’s first treatment for food allergy, has been a game-changing proposition in the biopharmaceutical industry and is transformative for the lives of millions of people living with potentially life-threatening peanut allergy. This acquisition ensures a level of support for Palforzia and our pipeline that will further enhance their potential for patients around the world living with food allergies.”

The transaction continues to bolster NHSc’s food allergy portfolio, the company said. It is subject to customary approvals and conditions.

The deal also represents NHSc’s second purchase of the month, following the Aug. 18 agreement to acquire nutritional science business IM HealthScience, maker of products under brands like IBgard, FDgard and more.

IM HealthScience products treat conditions including irritable bowel syndrome, functional dyspepsia and more.

“The IMH products offer proven and trusted solutions for dietary management of specific digestive problems, as well as a separate solution for regulating sleep,” Behar said. “IMH’s dedication to developing products to address overall health and wellness by bringing cutting-edge life science and world-class research fits perfectly with our mission of empowering healthier lives through nutrition.”

IM HealthScience’s founder and chairman, Fred Hassan, is a former leader of New Jersey-based companies Schering-Plough and Pharmacia.

Financial terms of that transaction were not disclosed.