Nestlé has unloaded its peanut allergy drug Palforzia to Swiss biopharma Stallergenes Greer after previously spending billions on the treatment’s acquisition.
The company will receive undisclosed milestone payments and ongoing royalties from Stallergenes Greer as part of the deal, according to the 4 September announcement.
In August 2020, Nestlé acquired Palforzia through its $2.6bn takeover of Aimmune Therapeutics, the original developer of the peanut allergy treatment. Prior to this, Nestlé invested $473m in Aimmune over several years. Most recently, Aimmune received $200m from Nestlé in February 2020, only days after the US Food and Drug Administration (FDA) approved Palforzia as a peanut allergy treatment for children ages four years through 17.
The European Commission approved the drug in the same patient group in December 2020. While the drug was approved for use in children, the drug can also be used in those aged 18 and older in combination with a peanut-avoidant diet.
Last November, Nestlé announced its decision to consider strategic options for Palforzia after a “slower than expected adoption by patients and healthcare professionals” in an investor seminar. The review was expected to be completed in H1 2023.
Palforzia is an oral immunotherapy that causes desensitisation to certain amounts of allergens by raising the threshold needed for an allergenic reaction. This is done by ingesting very small quantities of specific allergenic proteins in the treatment, which are then followed by increasing amounts, per the Nestlé December 2020 press release.
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The Palforzia acquisition marks a further addition to Stallergenes Greer’s anti-allergy portfolio. The company’s approved products target multiple allergies, including different grasses, mites, and trees.