The Vevey, Switzerland-based company announced Wednesday, Feb. 2 that it had attained possession of CM&D Pharma Ltd (CM&D), a company that focuses on the development of products for patients with kidney disease, inflammatory bowel disease, and colon cancer.
"This acquisition is an excellent fit with Nestlé Health Sciences strategic goal of being a pioneer in the promising area of science-based nutrition," says Luis Cantarell, president and ceo of Nestle Health Science, in a statement from Nestlé. "We share CM&D's commitment to use health science for improving the quality of people's lives, and this acquisition will help to reinforce our position in this opportunity."
CM&D functions as a part of Invetages Group, an independent venture capital fund that Nestle invests in, and works to develop food for specific medical purposes.
The company's leading product, Fostrap, is a medical chewing gum for kidney patients with elevated levels of phosphate in their blood. The product binds phosphate in the saliva, helping to lower its levels in the blood.Specifics on the company's financials and terms of transaction have not yet been disclosed.
Nestlé Health Science became active a month ago and functions as a fully-owned subsidiary of Nestlé S.A. The division will focus on science-based nutritional solutions to deliver personalized health care for medical conditions.
For more information visit www.nestle.com.