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Nestle to buy medical device company Phagenesis in stages

The deal is the latest acquisition in medical sphere as Nestle increasingly refocuses its business between food and pharmaceuticals

Reuters  |  Zurich 

Nestle announced a deal on Thursday to buy Phagenesis, a British medical device company working on a new treatment for dysphagia, a condition where patients are unable to swallow safely. Nestle Health Science will make an undisclosed upfront payment, followed by milestone-based funding, while Phagenesis completes evaluation of its Phagenyx device that uses electrical stimulation to help sufferers regain control of swallowing. The acquisition will be based on successful completion of European and U.S. development programmes anticipated by 2019, Nestle said. The deal is the ...

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First Published: Thu, September 01 2016. 12:58 IST