Nestle and Lipid Therapeutics to create ulcerative colitis therapy

Nestle is to collaborate with Lipid Therapeutics on the development of a new ulcerative colitis therapy.

The licence agreement between Nestle Health Science and Lipid Therapeutics will give Nestle exclusive rights worldwide, except for Europe and Australia, to the innovative compound LT-02.

Also known as phosphatidylcholine, the novel therapy is designed for patients with mild-to-moderate ulcerative colitis and has a novel mode of action that restores the colonic barrier function in the gut wall through anti-inflammatory signalling.

Nestle Health Science will help to further develop and commercialise LT-02, working in collaboration with Lipid Therapeutics' European development partner Dr Falk Pharma.

Greg Behar, chief executive officer of Nestle Health Science, said: "This agreement enables us to further build our gastrointestinal pipeline, a key focus of our Novel Therapeutic Nutrition business area, with the aim of developing nutritional therapies coupled with innovative drug and diagnostics solutions."

Phase III clinical trials of the drug commenced in Europe last October, with Nestle to launch US phase III studies in 2016.