Clinical trial setbacks and financial challenges have led Finch Therapeutics to stop a Phase 3 study for its lead microbiome program, a potential treatment for recurrent C. diff infection. As Finch seeks buyers for its remaining assets, the biotech is laying off most of its staff in a corporate restructuring.
The agreement termination means that two preclinical microbiome therapy candidates for inflammatory bowel disease will now return to Finch Therapeutics. The biotech company had been collaborating with Takeda Pharmaceutical since 2017.
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The FDA approved drugs from Johnson & Johnson and CTI BioPharma in the past week. Complete response letters were issued to Gilead Sciences, Amryt, and Reata Pharmaceuticals.
More funding and another powerful pharma backer have entered the microbiome space, showing that at least some investors and pharma execs believe the field can begin converting preclinical ideas into valid human therapies.