Finch Therapeutics announced a $90 million Series D financing round. New investors in the round include Baupost Group, Humboldt Fund, MSD Capital, MSD Partners, Octave Group, and OMX Ventures, along with support from existing investors, including Avenir Growth Capital, OCV Partners, Shumway Capital, SIG, SymBiosis, TPTF, and Willett Advisors. Proceeds will be used to support the advancement of the company’s lead candidate through the final stages of clinical development for recurrent C. difficile infection, and progression towards the clinic for programs focused on autism spectrum disorder and chronic hepatitis B.
“We are delighted to have the support of this strong syndicate to advance our platform and pipeline,” said Mark Smith, PhD, Chief Executive Officer of Finch Therapeutics. “The microbiome field is at an exciting inflection point, with recent positive clinical data from our trial in recurrent C. difficile and other clinical data suggesting that microbiome drugs may become the next major therapeutic class to transform patient care.”
Finch’s lead program is CP101, oral microbiome drug designed to deliver the full diversity of a healthy gut microbiome. In June, results were reported from the phase 3 PRISM3 trial, showing the primary efficacy endpoint for the prevention of recurrent CDI was reached. Finch also recently announced the initiation of a program to evaluate CP101 for the treatment of chronic HBV, building off pre-clinical and clinical studies suggesting that delivery of a complete microbiome may drive viral clearance through stimulation of the innate immune response.
Finch’s proprietary pipeline also includes FIN-211, an oral microbiome drug initially targeting the treatment of children with ASD that suffer from serious gastrointestinal (GI) symptoms. FIN-211 is designed to re-establish a normal microbiome composition and function, building off pre-clinical and clinical studies suggesting that GI and behavioral symptoms may be linked to a disrupted microbiome. Plans are underway for the initiation of Phase 1b studies evaluating FIN-211 for autism spectrum disorder (ASD) and CP101 for chronic hepatitis B (HBV).
In addition, Finch has partnered with Takeda Pharmaceuticals to develop oral microbiome drugs composed of rationally-selected strains designed to target specific mechanisms underlying the pathogenesis of inflammatory bowel disease. Finch’s first program with Takeda is focused on the development of FIN-524 for ulcerative colitis. After achieving key pre-clinical milestones with FIN-524, Finch and Takeda expanded their partnership to include the development of FIN-525 for Crohn’s disease.