VEVEY: Nestle SA agreed to pay DBV Technologies SA, a French developer of therapeutic skin patches, as much as 100 million euros (US$110 million) for the right to sell an experimental test to detect milk allergies, the most common food allergy in children.
Nestle is to pay the Montrouge-based company 10 million euros upfront for development of the test, which Nestle would have the right to sell globally pending regulatory approval, DBV said in a statement yesterday. DBV said it would fund development and expects to ask for clearance by 2021.
