"Somerville, Mass.-based Finch Therapeutics announced that it had inked a global collaboration deal with Takeda Pharmaceutical Company Limited (TKPYY).
The agreement focuses on jointly developing FIN-524, a live biotherapeutic product made up of cultured bacterial strains that have been associated with favorable clinical outcomes in research of microbiota transplantations in inflammatory bowel disease (IBD).
Under the deal, Finch will receive an upfront payment of $10 million for exclusive worldwide rights to develop and commercialize FIN-524. It also will gain rights to follow-on products in IBD. Finch will also be eligible for various milestones and tiered royalties on worldwide net sales. If the companies want to extend the deal, they will have the option to do so."
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