Finch Therapeutics Group, Inc., a clinical-stage microbiome therapeutics company, announced today the completion of a $53m (£43.38m) Series C financing.
The financing comes from new investors including OCV Partners, Susquehanna International Group (SIG), Symbiosis LLC and the Trans-Pacific Technology Fund, as well as existing investors, including Avenir Growth Capital, Morgan Noble, Shumway Capital, and Willett Advisors.
Finch will use the Series C proceeds to advance its pipeline of novel microbial therapies, including CP101, a Full-Spectrum Microbiota (FSM) therapy delivered in an oral capsule that is designed to contain a diverse community of microbiota and restore a balanced microbiome. CP101 is currently being evaluated for the prevention of recurrent C. difficile infections (CDI) in Finch’s PRISM3 trial, a potentially pivotal clinical study. Compelling results from the PRISM3 trial may be sufficient to support FDA approval, based on recent communications with the agency.
The Series C proceeds will also enable Finch to accelerate the development of its FSM therapy for Autism Spectrum Disorder (ASD). ASD is a developmental disorder characterized by behavioral symptoms and often accompanied by gastrointestinal (GI) symptoms. Studies suggest that GI and behavioral symptoms may be linked to a disrupted microbiome. Finch is supporting an actively enrolling, Phase II, investigator-initiated clinical study (NCT03408886) evaluating the safety and efficacy of its FSM therapy in adults with ASD. Finch has also received FDA Fast Track designation for its pediatric ASD program.
Beyond CDI and ASD, Finch is continuing to expand its pipeline of microbiome-based therapeutics, including a pre-clinical Rationally-Selected Microbiota (RSM) program in Inflammatory Bowel Disease (IBD), in partnership with Takeda Pharmaceuticals.
“We are thrilled that this additional funding, coupled with the recent Breakthrough Therapy designation we received from the FDA, will enable us to accelerate our efforts to provide a new therapy to patients battling recurrent C. difficile,” said Mark Smith, CEO of Finch. “We also look forward to advancing our investigational therapies for ASD, IBD and other conditions linked to a disrupted microbiome.”
CP101 is not approved in any country. The FDA’s Breakthrough Therapy and Fast Track designations do not constitute or guarantee future approval and do not alter the standards for approval.
Source: Company Press Release