Takeda Pharmaceutical Co. Ltd. and Finch Therapeutics entered an agreement to jointly develop FIN-524, a live biotherapeutic product in pre-clinical research.
The product is composed of cultured bacterial strains that have been linked to favorable clinical outcomes in studies of microbiota transplantations in inflammatory bowel disease, an ongoing inflammation of all or part of the digestive tract.
As part of the agreement, Takeda will make an up-front payment of $10 million to Finch for exclusive global rights to develop and commercialize FIN-524 and rights to follow-on IBD products.
Finch will be eligible for development, regulatory, and commercial financial milestones and tiered royalties on worldwide net sales. The companies may elect to extend this collaboration to additional, related indications on similar terms.
Further details of the agreement were not disclosed.
Finch Therapeutics is a privately held microbiome engineering company.