Japanese drugmaker Takeda Pharmaceutical (TYO: 4502) and American biotech firm Finch Therapeutics today announced a global collaboration to jointly develop gastroenterological candidate FIN-524, a product in pre-clinical research.
FIN-524 is a live biotherapeutic product being developed to treat inflammatory bowel disease (IBD), a chronic condition which can cause pain, swelling, weight loss and extreme tiredness.
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.
Mark Smith, chief executive of Finch, said: “Our human-first discovery platform uses data from successful clinical experiences with fecal transplants to design novel microbiome therapeutics for IBD and other diseases.”
Gareth Hicks, head of gastroenterology drug discovery for Takeda, said: “The foundation of clinical evidence underlying FIN-524 make us excited to be working with our new partners in this rapidly developing field of medicine.”