Benzinga | Aug 10, 2021 03:54PM EDT

Takeda To Lead Finch-Partnered Microbiome IBD Drug

* Finch Therapeutics Group Inc (NASDAQ:FNCH) announced that Takeda Pharmaceutical Company Limited (NYSE:TAK) has elected to take the lead on the development of FIN-524, now known as TAK-524, in ulcerative colitis.

* When Takeda teamed up with Finch Therapeutics in 2017 on inflammatory bowel disease (IBD), it planned to pick up programs after they'd finished Phase 2 trials.

* Takeda will assume primary development responsibility for the program ahead of the planned initiation of clinical-stage development. Finch will provide ongoing technical support through the phase 1 trial of the treatment.

* TAK-524 is made up of bacteria strains designed to fight ulcerative colitis at its source by harnessing the gut microbiome's influence on the immune system.

* Finch and Takeda to continue discovery efforts targeting Crohn's disease.

* Price Action: FNCH shares are up 0.54% at $13.87, while TAK stock is down 0.44% at $16.35 during the market session on the last check Tuesday.