Takeda pulls out of deal with Finch on microbiome candidates for IBD
Finch Therapeutics (Nasdaq: FNCH) yesterday announced that it will regain full development and commercial rights to FIN-524 (previously known as TAK-524) and FIN-525 from Japanese pharma major Takeda Pharmaceutical (TYO: 4502).
The market reaction was to push Finch’s shares up 6.9% by close on Thursday, but down by the same amount to $2.50 by mid-morning today.
Following a review of its pipeline, Takeda informed Finch of its decision to terminate its collaboration with Finch, effective November 17, 2022, resulting in the return to Finch of worldwide rights to develop and commercialize FIN-524, FIN-525, and any other microbiome product candidates for inflammatory bowel disease (IBD). FIN-524 and FIN-525 are investigational, orally administered targeted microbiome product candidates composed of bacterial strains selected for their potential immuno-modulatory properties.
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