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How much revenue will Seres Therapeutics generate from the sale of Vowst by Dec 31, 2024?
5
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Seres Therapeutics' financial reports
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Seres Therapeutics to Sell Vowst Rights to Nestlé Health Science for $17,500
Jun 6, 2024, 12:10 PM
Cambridge, MA-based commercial stage microbiome biotech Seres Therapeutics announced on Thursday that it has entered into a non-binding memorandum of understanding with Nestlé Health Science for the sale of its bacterial infection drug, Vowst, and related intellectual property rights. The sale aims to help Seres pay off debt, extend its cash runway into Q4 2025, and focus on developing its next drug, SER-155, which aims to restore the microbiome in stem cell transplant patients. Despite Vowst’s $17,500 list price, Seres has been selling it at a loss, reporting an $18.9 million net loss for 2023 on $19.6 million in sales, which it split with Nestlé. The companies first agreed to jointly develop and commercialize Vowst in 2021. Vowst is the first-ever FDA-approved oral microbiome therapy and an alternative to fecal transplants for treating deadly infections.
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