Establishes joint venture with Nestlé Health Science

Nutrition Science Partners (NSP) intends to:

  • Research and develop a pipeline of innovative gastrointestinal botanical medicines and nutritional products through access to our best-in-class Traditional Chinese Medicine library and discovery platform
  • Progress HMPL-004, the lead candidate, through Phase III trials for ulcerative colitis and Crohn’s disease

Shanghai, Wednesday, November 28, 2012: Nestlé Health Science, a fully-owned subsidiary of Nestlé, and Hutchison MediPharma (HMP), announced that they have agreed to form a 50/50 joint venture named Nutrition Science Partners (NSP).

The purpose of NSP is to research, develop, manufacture and market worldwide novel medicines and nutritional products derived from botanical plant origins. NSP will focus on gastrointestinal indications, and may in the future expand into the metabolic disease and brain health areas.

Luis Cantarell, President and CEO of Nestlé Health Science said: “This JV provides Nestlé Health Science with an opportunity to develop and commercialize truly innovative and scientifically validated botanical based nutrition solutions for personalized healthcare in gastrointestinal health. Nestlé Health Science will bring unique competencies in nutritional sciences, diagnostics and commercial capabilities and [HMP] will provide its best-in-class Traditional Chinese Medicine library and discovery platform, which will be the basis of Nutrition Science Partners’ future gastrointestinal pipeline. The lead candidate HMPL-004 addresses key unmet needs for IBD patients.”

Christian Hogg, CEO of Hutchison China MediTech, said that HMP “has invested for many years in developing novel medicines for the global market derived from proven botanical sources. We are today a leading company in the world in this field. We are now joined in this important endeavor by Nestlé Health Science, and are confident that by harnessing the resources of our two groups, we will succeed in bringing a stream of novel botanical medicines and nutritional products to market and in-so-doing build significant value for patients and for our shareholders.”

Nestlé Health Science will make an initial capital investment in return for its 50% shareholding in NSP; while HMP will provide exclusive rights to its extensive botanical library and well-established botanical R&D platform, in the field of gastrointestinal disease. Such botanical library contains over 1,500 purified natural products and over 50,000 extracts/fractions derived from more than 1,200 different medicinal plants.

NSP will also progress HMPL-004, a novel, oral therapy for IBD developed by HMP and derived from a botanical extract, through Phase III registration trials for ulcerative colitis and Crohn’s disease. The clinical efficacy and safety of HMPL-004 in the treatment of IBD has already been demonstrated in over 400 patients, including successful Phase IIb trials completed by HMP in North America and Europe. The Phase III program for HMPL-004 is scheduled to start in early 2013. It will be conducted primarily in the US and Europe and is expected, in total, to enroll over 2,700 patients suffering from ulcerative colitis and Crohn’s disease.

NSP will be governed by its Board. Luis Cantarell will be the Chairman, and Christian Hogg will be both a Director and the first General Manager of NSP.

NSP will be funded primarily through the initial Nestlé Health Science capital investment and further milestone payments linked to success of clinical and commercial activities.

This transaction is subject to regulatory approval.

About Nestlé Health Science
Nestlé Health Science was formed in January 2011 to spearhead the development of science-based personalized nutritional solutions. Building on its core HealthCare Nutrition business, the company has ambitions to address chronic conditions in the area of Gastrointestinal Health, Metabolic Health and Brain Health. Nestlé Health Science offers nutritional solutions for people with specific dietary needs related to illnesses, disease states or the special challenges of different life stages. Nestlé Health Science, a wholly owned subsidiary of Nestlé SA, employs around 3,000 people worldwide and has its headquarters in Lutry, Switzerland. For more information, visit www.nestlehealthscience.com.

About HMP
HMP is a novel drug R&D company focusing on discovering, developing and commercializing innovative therapeutics in oncology and autoimmune diseases. With a team of around 200 scientists and staff, its pipeline is comprised of novel oral compounds for cancer and inflammation in development in North America, Europe, Australia and Greater China. For more information, visit www.hmplglobal.com