The deal had a positive impact on the stock market where Aimmune's shares surged 171%.
Aimmune is a biopharmaceutical company which develops treatments for people with potentially life-threatening food allergies. The company, which was founded 9 years ago, was originally called Allergen Research Corporation until it changed its name in May 2015.
The company is known for Palforzia. Palforzia is a treatment for people who are allergic to peanuts. As per the Aimmune, it can "help reduce the severity of allergic reactions, including anaphylaxis, that may occur with accidental exposure to peanut."
Palforzia is the first treatment for peanut allergy to be approved by the Food and Drug Administration on January 31, 2020. As per FDA, Palforzia is a powder that is manufactured from peanuts and packaged in pull-apart color-coded capsules for Dose Escalation and Up-Dosing, and in a sachet for maintenance treatment.
The acquisition of Aimmune by Nestlé is expected to close in the fourth quarter.
"The agreement with Nestlé recognizes the value created by years of commitment and dedication to our mission by the team at Aimmune," said Jayson Dallas, President and CEO of Aimmune. “This acquisition provides strong value for our shareholders and ensures a level of support for Palforzia and our pipeline that will further enhance their potential for patients around the world living with food allergies."