OR WAIT null SECS
The companies will work to co-develop FIN-524, a live biotherapeutic product composed of cultured bacteria strains.
On April 5, 2017, Finch Therapeutics and Takeda Pharmaceutical Company announced that they have entered into a global collaboration agreement to jointly develop FIN-524, a live biotherapeutic product in pre-clinical research. FIN-524 is composed of cultured bacterial strains that have been linked to favorable clinical outcomes in studies of microbiota transplantations in Inflammatory Bowel Disease (IBD).
Under the terms of the agreement, Takeda will make an upfront payment of $10 million to Finch for the exclusive worldwide rights to develop and commercialize FIN-524 and rights to follow-on products in IBD. Finch will be eligible for development, regulatory, and commercial financial milestones and tiered royalties on worldwide net sales. Finch and Takeda may elect to extend this collaboration to additional, related indications on similar terms. Further details of the agreement were not disclosed.
Source: Finch Therapeutics