The corporate venturing unit of Nestle backs Carl Sterrit, founder of Shield Therapeutics, one of its healthcare portfolio companies to set up another company.
The corporate venturing unit of Swiss-based consumer goods company Nestle has invested up to €10.5m ($13.8m) in pharmaceutical company Phosphate Therapeutics.
Inventages Venture Capital has invested the money at the same time as the company has signed an exclusive agreement with the UK’s Medical Research Council to acquire the global rights to PT20, a phosphate binder used to treat one of the symptoms of late stage renal disease, hyperphosphataemia.
Phosphate Therapeutics is led by Carl Sterrit, who is also chief…
