Phosphagenics and Nestlé Nutrition extend option agreement
Phospha E® clinical program to progress as planned
Nestlé has received regulatory approval of its acquisition of Novartis Medical Nutrition, substantially improving Nestlé's position in the fast growing and profitable healthcare nutrition segment. Gradual integration of Novartis activities is planned during the next months. As Phospha E® would be marketed by the extended Nestlé enterprise, the acquisition of Novartis has the potential to increase the value of the arrangement between Nestlé and Phosphagenics. In these circumstances, it was considered by both parties to be premature to conclude their commercial arrangements before consolidation of Novartis activities.
To avoid any delays in the development of Phospha E®, Nestlé and Phosphagenics are continuing their planned clinical program, with the first human trial intended to commence this quarter.
This clinical trial follows on from the successful completion of a series of full dose-response pre-clinical studies of Phospha E®. Nestlé and Phosphagenics are continuing to work together to develop Phospha E® for use as a nutritional product, targeting the prevention and treatment of metabolic syndrome.
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