Finch Therapeutics snagged another $36 million in funding, boosting its capital raised to $77 million and enabling it to carry its C. difficile treatment, CP101, through phase 2.
The Somerville, Massachusetts-based startup picked up CP101, what it calls a “full-spectrum microbiota product,” in its October merger with Crestovo. At the time, Crestovo’s pipeline was further ahead, having started a phase 2 trial of CP101 in 240 patients with C. diff infections.
In addition to supporting Finch’s ongoing phase 2 efforts for CP101, the new funding will also advance its earlier-stage pipeline. This includes pushing forward FIN-524, a candidate composed of cultured bacterial strains for treating inflammatory bowel disease.
Six months before Finch tied the knot with Crestovo, it inked a pact with Takeda that saw the Japanese pharma hand over $10 million for the worldwide rights to FIN-524, as well as the rights to follow-on products for IBD. It was Takeda’s second microbiome deal within a week—the company tapped NuBiyota and its microbiome platform to develop treatments for gastrointestinal diseases.
“We look forward to continued progress in PRISM 3, our ongoing Phase 2 study of CP101, an orally delivered Full-Spectrum Microbiota product being developed for recurrent C. difficile infections,” said Mark Smith, CEO of Finch Therapeutics.
“We are also excited to advance our pipeline of therapeutic candidates into the clinic both through sponsored programs and in collaboration with Takeda and our academic partners as we work to realize the exciting potential of the human microbiome.”