Finch Therapeutics Group, a Phase 3-ready biotech developing microbiome therapeutics, raised $128 million by offering 7.5 million shares at $17, the high end of the range of $15 to $17. The company offered 1.3 million more shares than anticipated.
Finch is a microbiome therapeutics company leveraging its Human-First Discovery platform to develop a novel class of orally administered biological drugs. Its lead candidate, CP101, delivers a complete microbiome and is being developed initially for the treatment of patients with recurrent Clostridioides difficile infection (CDI). In June 2020, the company reported positive topline data from its first pivotal trial in recurrent CDI, and plans to initiate a Phase 3 trial as its second and final pivotal trial in mid-2021.
Finch Therapeutics Group plans to list on the Nasdaq under the symbol FNCH. BofA Securities, Jefferies and Evercore ISI acted as lead managers on the deal.
