Finch Therapeutics Raises $53 Million to Advance Microbiome-Based Therapies for Recurrent C. Difficile, Autism and other Disease Areas
Finch Therapeutics Group, Inc., a clinical-stage microbiome therapeutics company, announced on 8/27/19 the completion of a $53 million 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.
Scioto Biosciences and Abigail Wexner Research Institute Receive a $2.3 Million Dollar Phase II SBIR Grant to Develop Live microbial Therapeutic
-Scioto Biosciences, a preclinical stage company developing innovative therapies to transform the delivery of microbiome therapeutics, announced 0n 8/21/19 that they are a recipient of a Phase II SBIR grant from the National Institutes of Health (NIH) for $2.3 million. The Phase II award is to continue to support the research with Scioto’s collaborator, the Abigail Wexner Research Institute (AWRI) at Nationwide Children’s Hospital in Columbus, Ohio. The funding will be used to develop Scioto’s proprietary therapeutic SB-121, which is a unique formulation used to deliver healthy, activated probiotic or beneficial bacteria to the gastrointestinal tract. Scioto’s strategy of delivering healthy bacteria to the GI tract can be used to treat a number of different disorders ranging from infectious diseases to disorders effecting the gut-brain axis, such as autism and depression.
“The NIH has been a wonderful partner in launching this platform. We are grateful for their support and are pleased to continue to work with them as we move this novel therapeutic into the clinic,” said Joe Trebley, Scioto CEO and co-Principal Investigator (PI) on the grant.
The grant will start in August 2019 and last for two years. The funding is provided through the National Institute of General Medical Sciences (NIGMS). Scioto co-founders Drs. Gail Besner, Steve Goodman and Michael Bailey will all serve as co-PIs on a grant subaward to the AWRI.
“This funding will be used to support important pre-clinical experiments prior to treating necrotizing enterocolitis in pre-term infants. The work here will be critical to inform upcoming clinical work to help combat these deadly GI disorders as well as other diseases,” said Dr. Besner, Chief of Pediatric Surgery at Nationwide Children’s.