Nestlé’s health science unit inks staged acquisition of Phagesis

The health science business owned by Nestlé (VTX:NESN) said yesterday that it agreed to a staged acquisition of Phagenesis and its device for treating patients who can’t swallow.

The deal calls for an unspecified up-front payment and a series of milestones pegged to development programs in the U.S. and Europe for the Phagenyx device, which has CE Mark approval in the European Union but is not approved for the U.S. market. Phagenyx is designed to use pharyngeal electrical stimulation to the back of the throat to restore neurological control of swallowing in patients with dysphagia.

U.K.-based Phagenesis, founded in 2007 based on technology developed at the University of Manchester, is backed by venture capital shops Inventages Venture Capital and Anglo Scientific.

“Nestlé Health Science is the leading global player in dysphagia with capabilities and reach to enable Phagenesis to accelerate the development and deployment of Phagenyx to patients around the world,” Phagenesis CEO Reinhard Krickl said in prepared remarks.

“Dysphagia is a strategic focus for Nestlé Health Science. This innovation can bring a new dimension to swallowing rehabilitation that can be transformational from a patient and healthcare professional perspective,” added Nestlé Health Science CEO Greg Behar.

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