Seres sells VOWST to Nestlé Health Science for $175M upfront plus milestones

Seres Therapeutics, Inc.

Seres to receive $175M at closing: $100M upfront (less ~$20M net settlement), $60M prepaid milestone, $15M equity at $1.05/share.
Additional $75M due in 2025 subject to transition obligations; up to $275M in future commercial milestones on VOWST net sales.
Seres to fully retire its senior secured debt with Oaktree at closing; expects cash runway into Q4 2025.
Workforce to be reduced by more than one-third as VOWST capabilities transfer to Nestlé.
Pipeline focus shifts to SER-155; Phase 1b placebo-controlled Cohort 2 data expected September 2024.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.