Nestle invests in microbiome-based diagnostics venture
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The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland February 18, 2016. REUTERS/Pierre Albouy/File Photo
ZURICH (Reuters) - Food group Nestle's
This is the latest in a string of investments by Nestle Health Science targeting gastrointestinal health, and comes as the world's biggest food group is targeted by activist investor Daniel Loeb who is pressing for improved returns.
The new company, Microbiome Diagnostics Partners, will be a 50/50 joint venture, with Enterome contributing its current microbiome diagnostic programs and intellectual property and Nestle's Prometheus Laboratories contributing its diagnostics development and commercial expertise, Enterome said.
(Reporting by Silke Koltrowitz)
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