Hutchison China Medi (HCM) - Chi-Med and Nestle´ Health Science Joint
RNS Number : 1484S
Hutchison China Meditech Limited
28 November 2012
Hutchison China MediTech Limited ("Chi-Med")
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
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
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
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
This transaction is subject to regulatory approval.
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.
Christian Hogg, CEO Telephone: +852 2121 8200
Panmure Gordon (UK) Limited Telephone: +44 20 7886 2500
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
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
JVEPGGMUGUPPGMM -0- Nov/28/2012 07:00 GMT
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