---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-035799"
form_type: "8-K"
ticker: "MCRB"
cik: "0001609809"
company_name: "Seres Therapeutics, Inc."
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:17:43.991933+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-24-035799
- form_type: 8-K
- ticker: MCRB
- cik: 0001609809
- company_name: Seres Therapeutics, Inc.
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609809/000114036124035799/0001140361-24-035799-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609809/000114036124035799/ny20030749x3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-035799
- JSON: https://secwatch.observer/filing/0001140361-24-035799.json
- Plain text: https://secwatch.observer/filing/0001140361-24-035799.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.