Takeda Walks Away From Microbiome Deal With Finch
Takeda has canceled its five-year microbiome collaboration with Finch Therapeutics following a pipeline review, and will return the rights to all assets generated during the partnership by November 17, 2022. This includes two preclinical drugs FIN-524 (previously TAK-524) and FIN-525 which were being developed for inflammatory bowel disease (IBD).
Finch Regains Rights To Assets
Finch received more than $44 million from Takeda during the partnership, including a $10 million upfront payment, $4 million in milestones and $30 million in reimbursement for R&D expenses.
With the collaboration terminated, Finch will regain all data and intellectual property from the partnership, which includes a library of bacterial isolates, data from ex vivo and in vivo studies and a suite of pharmacokinetic and pharmacodynamic assays.
The returning preclinical candidates, FIN-524 and FIN-525, are orally administered drugs for ulcerative colitis and Crohn’s disease, two common types of IBD. They are designed to include multiple bacterial strains, including donor strains linked to remission following microbiota transmission in IBD patients, to target multiple mechanisms of action.
Finch is already looking towards other collaboration opportunities to advance the candidates, said CEO Mark Smith, PhD. The company is also reviewing their portfolio and assessing the impact of the discontinuation of the deal with Takeda, he added.
According to its financial report to the SEC this month, Finch has around $104.7 million left in funds, down from $133.5 million at the end of last year. The company is subleasing one of its offices and lab facilities, which is expected to help fund its operations into the first quarter of 2024.©www.geneonline.com All rights reserved. Collaborate with us: firstname.lastname@example.org