Hutchison China Medi HCM Chi-Med and Nestle´ Health Science Joint Venture

  Hutchison China Medi (HCM) - Chi-Med and Nestle´ Health Science Joint
  Venture

RNS Number : 1484S
Hutchison China Meditech Limited
28 November 2012





                                      

                 Hutchison China MediTech Limited ("Chi-Med")

                                  (AIM: HCM)





          Chi-Med and Nestlé Health Science establishJoint Venture

                                      

                   'Nutrition Science Partners' intends to:



· Research and develop a pipeline of innovative gastrointestinal botanical
medicines and nutritional products through access to 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



London: Wednesday, 28 November 2012: Nestlé Health Science SA, a fully-owned
subsidiary of Nestlé SA, and Chi-Med, today announce that they have agreed  to 
form a 50/50  joint venture  to be  named Nutrition  Science Partners  Limited 
("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  ("GI"), 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 
commercialise truly innovative  and scientifically  validated botanical  based 
nutrition solutions for  personalised healthcare  in gastrointestinal  health. 
Whilst Nestlé Health  Science will  bring unique  competencies in  nutritional 
sciences, diagnostics and commercial capabilities, Chi-Med will provide  their 
best-in-class Traditional  Chinese Medicine  library and  discovery  platform, 
which will  be the  basis of  NSP's  future GI  pipeline. The  lead  candidate 
HMPL-004 addresses key unmet GI needs for IBD patients."

Christian Hogg, CEO of Chi-Med, said: "Chi-Med 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 endeavour  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 Chi-Med 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 Inflammatory  Bowel 
Disease ("IBD") developed by Hutchison MediPharma Limited ("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  enrol 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 Nestle Health Science capital
investment and further milestone  payments linked to  success of clinical  and 
commercial activities.

This transaction is subject to regulatory approval.

                                      

                                     Ends

There will be a conference call for analysts at 08:30 GMT this morning, hosted
by Luis Cantarell and Christian Hogg. Dial-in details are:

UK:  0808 109 0700 (Toll free)

International: +44 (0) 20 3003 2666

Participants must specify that they are dialling in for the Chi-Med call.

Enquiries



Chi-Med                     

Christian Hogg, CEO         Telephone: +852 2121 8200

                            
Panmure Gordon (UK) Limited Telephone:  +44 20 7886 2500
Richard Gray                

Andrew Potts                

Grishma Patel               

                           

Citigate Dewe Rogerson      Telephone: +44 20 7638 9571

Anthony Carlisle            Mobile:  +44 7973 611 888

David Dible                 Mobile:  +44 7967 566 919

Notes to Editors

1. About Nestlé Health Science

Nestlé Health Science was formed in January 2011 to spearhead the  development 
of science-based  personalised 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.



2.  About Chi-Med

Chi-Med is the holding company of a healthcare group based primarily in  China 
and was  listed on  the  Alternative Investment  Market  of the  London  Stock 
Exchange in May  2006 (AIM:HCM).  It is focused  on researching,  developing, 
manufacturing  and  selling  pharmaceuticals  and  health  oriented   consumer 
products. For more information, visit www.chi-med.com.



Chi-Med is  majority  owned by  Hutchison  Whampoa Limited,  an  international 
company listed on the Main Board of The Stock Exchange of Hong Kong  Limited. 
Hutchison Whampoa  employs over  250,000  people in  53 countries.  For  more 
information, visit www.hutchison-whampoa.com.



3.  About Hutchison MediPharma Limited (HMP)

HMP is  a subsidiary  of  Chi-Med and  a novel  drug  R&D entity  focusing  on 
discovering, developing and commercialising innovative therapeutics in  cancer 
and autoimmune diseases. With a team of around 200 scientists and staff,  its 
pipeline  comprises  novel  oral  products  for  cancer  and  inflammation  in 
development in North America, Europe,  Australia and Greater China. For  more 
information, visit www.hmplglobal.com.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


JVEPGGMUGUPPGMM -0- Nov/28/2012 07:00 GMT