05:47 PM EDT, 09/30/2024 (MT Newswires) -- Seres Therapeutics ( MCRB ) completed the sale of its VOWST business to Societe des Produits Nestle.

Seres got $175 million in gross proceeds and expects to receive installment payments of $50 million in January and $25 million in July.

The transaction also includes up to $275 million in future milestone payments, the company said Monday in a statement.

Current cash reserves and anticipated future deal payments will extend the company's cash runway into Q4 2025, according to the statement.

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