Anemune Therapeutics climbs 172% after Nestle acquires peanut allergy treatment company for $ 2.6 billion (AIMT)

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  • Immune therapies rose 172% on Monday after agreeing to acquire the company for $ 34.50 per share, or $ 2.6 billion, by Nestlé Health Science.
  • Eyemune developed a treatment for peanut allergy, Pforzia, which was approved by the FDA in January of this year.
  • But the COVID-19 epidemic derailed iMune’s Palforzia launch plans, causing its stock price to fall significantly.
  • Prior to today’s acquisition, Nestlé held a 25.6% stake in iMune after its 2016 investment.
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Ammun Therapeutics, a biotechnology company that developed a cure for peanut allergies, rose 172% on Monday after Nestlé Health Science, which Nestlé’s division agreed to acquire the company for $ 2.6 billion.

In January, the FDA approved pallaphoria as the first treatment for peanut allergy. But the COVID-19 epidemic delayed Aimmune’s plan to commercialize the drug, resulting in a 72% drop in stock price in the coming months.

Pamforz is intended for children between 4 and 17 years of age, and is used to help reduce the frequency and severity of allergic reactions to peanuts, including anaphylaxis, according to Animune. The drug is in tablet form and is taken orally.

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Nestlé already had a 25.6% stake in healthcare. Immediately after approval to treat peanut allergy in January, Nestlé announced a $ 200 million investment in the company. Nestle originally invested in iMune in 2016.

The company said Nestlé expects acquisitions for organic growth in 2021 and cash earnings by 2022 or 2023.

Nestlé has launched a tender offer to acquire all the shares it does not already own for $ 34.50, a 174% premium to Emmune’s Friday closing price of $ 12.60 and a total enterprise value of $ 2.6 billion. Represents.

Nestlé will finance the acquisition with cash in hand and expects to close the transaction in the fourth quarter of 2020.

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