Finch Therapeutics Group, Inc. (Finch), a privately held microbiome therapeutics company, announced today the successful close of an oversubscribed $36 million Series B financing, bringing the total capital raised since the Company’s launch to $77 million.
The new entity, Finch Therapeutics Group, combines Crestovo’s extensive IP assets and late-stage candidate for recurrent C. difficile infections, CP101, an oral Full-Spectrum Microbiota™ product, with Finch’s commercial-scale manufacturing capabilities, discovery platform for developing Rationally-Selected Microbiota™ and significant product pipeline.
Under the terms of the agreement, Takeda will make an upfront payment of $10 million to Finch for the exclusive worldwide rights to develop and commercialize FIN-524 and rights to follow-on products in IBD. Finch will be eligible for development, regulatory and commercial financial milestones and tiered royalties on worldwide net sales.
Finch Therapeutics, Inc., a microbiome therapeutics company, and OpenBiome, a leading public stool bank, today announced a collaboration to develop FIN-403, an orally administered microbial therapy for approval by U.S. Food and Drug Administration (FDA) in recurrent C. difficile infections.
he Phloral technology will enable the first-in-human discovery approach at Finch. "Phloral is an exciting technology for our research into the microbiome because it enables oral delivery of communities with the same precise targeting as traditional but less convenient colonoscopic delivery,” says Dean Glettig, Director of Product Development at Finch.
"Finch Therapeutics is designing products comprised of pure cultures of microbes that will serve the same purposes of fecal microbiotas transplantation while also being safer and more scalable." -- Forbes