Finch Therapeutics Group, Inc. (“Finch”, “Finch Therapeutics” or
the “Company”) (Nasdaq: FNCH), a microbiome technology company with
a portfolio of intellectual property and microbiome assets, today
announced the appointment of Matthew P. Blischak as Chief Executive
Officer, effective May 16, 2023. In conjunction with the
appointment of Mr. Blischak, Mark Smith, PhD, will conclude his
role as Chief Executive Officer and as a member of the Company’s
board of directors, effective May 15, 2023. Dr. Smith is expected
to remain engaged with the Company as a scientific and strategic
advisor. In addition, Finch announced the appointment of Lance
Thibault as Chief Financial Officer, effective May 16, 2023. In
conjunction with the appointment of Mr. Thibault, Marc Blaustein
will conclude his role as Chief Operating Officer and as the
Company’s principal financial officer, effective May 15, 2023. Mr.
Blaustein is expected to remain engaged with the Company as a
strategic advisor.
“It is my privilege to welcome Matt as our next
Chief Executive Officer. We believe Matt’s deep experience in
managing innovative, emerging technologies and corresponding
intellectual property estates will play a key role in advancing
Finch’s microbiome technologies, while working to maximize value
for its shareholders through its foundational intellectual property
estate and other assets,” said Mark Smith, PhD, Founder of Finch
Therapeutics. “I am incredibly proud of what we have been able to
build since founding Finch in 2014 and am grateful for the team I
have been surrounded by and the patients we have impacted through
our work in the microbiome field. I continue to believe strongly in
the promise of the microbiome as a new therapeutic modality and
look forward to supporting the Company’s continued work in that
field as a strategic and scientific advisor.”
Matthew Blischak joins Finch with over 20 years
of intellectual property experience in the life sciences industry.
Prior to joining Finch, Mr. Blischak has most recently served from
May 2018 to April 2023 at Roivant Sciences, where he has focused on
the management and protection of intellectual property across the
company and its subsidiaries. During his time at Roivant, Mr.
Blischak has also been involved in many significant licensing
transactions, acquisitions and collaborations. Prior to that, Mr.
Blischak also worked at Bristol-Myers Squibb Company, Sunovion
Pharmaceuticals, and Teva Pharmaceuticals, where he directed patent
enforcement on a global scale, including patents covering Plavix®,
Copaxone®, Treanda®, Azilect®, Lunesta®, Xopenex®, and Ajovy®.
Before transitioning to in-house counsel, he worked at a boutique
intellectual property law firm, where he represented leading
pharmaceutical companies, including Genentech and Eli Lilly. Mr.
Blischak began his legal career at Cleary, Gottlieb, Steen &
Hamilton. Mr. Blischak graduated cum laude from Case Western
Reserve University with a BS in Chemical Engineering, magna cum
laude from the American University Washington College of Law, and
from Johns Hopkins University, where he earned his MS in
Biotechnology.
“I am thrilled with the opportunity to lead
Finch through this next stage in the Company’s journey,” said
Matthew Blischak, incoming Chief Executive Officer of Finch
Therapeutics. “Given the Company’s early and extensive work in this
field, Finch has developed a foundational intellectual property
estate that builds on the pioneering work of Tom Borody and
inventors at the University of Minnesota. Finch has over 70 issued
U.S. and foreign patents with critical relevance for a range of
potential applications. Given my experience, I feel uniquely
well-positioned to guide the Company’s efforts going forward in our
goal to realize the significant value from this intellectual
property estate as well as from continuing to advance our novel
microbiome technologies through partnerships and
collaborations.”
“We are excited to appoint Matt as Finch’s next
Chief Executive Officer. We believe his impressive background as an
executive at life sciences companies and protecting and enforcing
intellectual property rights across the life sciences industry will
enable the Company to leverage its robust IP estate and maximize
value for its shareholders,” said Susan E. Graf, Chair of the Board
of Finch Therapeutics. “I would also like to sincerely thank Dr.
Smith for his visionary leadership since Finch’s inception, through
critical development and corporate milestones and the advancement
of research across this modality. Mark’s desire to bring new
treatments to patients in need allowed him to build an exceptional
team and technology platform and he will continue to serve as one
of the true pioneers in this field.”
In addition, Lance Thibault will be supporting
Finch as its Chief Financial Officer. Mr. Thibault currently serves
as a Managing Director at Danforth Advisors, where he brings more
than 30 years of experience in the life sciences industry to his
work for Danforth clients. Prior to joining Danforth, he spent ten
years as CFO leading a US public biotech company. He previously
spent 12 years with PricewaterhouseCoopers, where he was an
integral member of the Transaction Advisory Services Global Capital
Markets Group in London, England. Mr. Thibault is a CPA and holds a
BS in Accountancy from Bentley University.
"In addition to welcoming Matt into his new role
at Finch, I look forward to working with Lance, who brings three
decades of experience in financial leadership to his role as our
new Chief Financial Officer,” continued Ms. Graf. “I’d also like to
thank Marc Blaustein for his exceptional service to Finch. His
leadership has been critical in positioning the Company for success
in this next chapter of our journey.”
About Finch Therapeutics
Finch Therapeutics is a microbiome technology
company with a portfolio of intellectual property and microbiome
assets. Finch has a robust intellectual property estate reflecting
the Company’s pioneering role in the microbiome therapeutics field,
including more than 70 issued U.S. and foreign patents with
critical relevance for both donor-derived and donor-independent
microbiome therapeutics in a range of potential indications.
Finch’s assets include CP101, an investigational, orally
administered microbiome candidate with positive clinical date from
a Phase 2 randomized, placebo-controlled trial and a Phase 2
open-label trial in recurrent C. difficile infection (CDI).
Additionally, Finch has pre-clinical assets that are designed to
target ulcerative colitis, Crohn’s disease, and autism spectrum
disorder, along with a significant biorepository of samples and
microbial strains. In January 2023, Finch announced a decision to
discontinue its Phase 3 trial of CP101 in recurrent CDI. Following
this decision, Finch is focused on realizing the value of its
intellectual property estate and other assets, while supporting the
advancement of its microbiome technology through partnerships and
collaborations.
Forward-Looking Statements:
This press release includes “forward-looking
statements.” Words such as “will,” "anticipates," "believes,"
"expects," "intends," “plans,” “potential,” "projects,” “would” and
"future" or similar expressions are intended to identify
forward-looking statements. These forward-looking statements
include, but are not limited to, statements regarding: the
Company’s plans and expectations associated with its leadership
transition, including with respect to the potential for such
transitions to enable the Company to advance its strategy to
advance its microbiome technologies to maximize value for its
shareholders through its intellectual property estate and other
assets. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. These
risks and uncertainties include, among others, those related to:
the possibility that Finch will not be able to enter into or fully
realize the potential of collaborations to advance its product
candidates or the therapeutic potential of its microbiome
technology intellectual property portfolio; the possibility that
Finch will not be able to realize the value of its intellectual
property estate and other assets; Finch’s ability to maintain
patent and other intellectual property protection and the
possibility that Finch’s intellectual property rights may be
infringed, invalid or unenforceable or will be threatened by third
parties; Finch’s ability to comply with regulatory requirements;
the possibility that Finch’s collaborators may de belayed in
initiating, enrolling or completing clinical trials; results of
clinical trials may not be indicative of final or future results
from later stage or larger clinical trials (or in broader patient
populations) or may not be favorable or may not support further
development; and product candidates developed using Finch’s
microbiome technology may not generate the benefits to patients
that are anticipated. These and other risks are described more
fully in Finch’s filings with the Securities and Exchange
Commission (“SEC”), including the section titled “Risk Factors” in
Finch’s Annual Report on Form 10-K for the year ended December 31,
2022, filed with the SEC on March 23, 2023, as well as discussions
of potential risks, uncertainties, and other important factors in
Finch’s other filings with the SEC. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. Except to the extent required by law, Finch
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
Investor Contact:Stephen
JasperGilmartin Group(858) 525-2047stephen@gilmartinir.com
Media and Collaborator
Contact:info@finchtherapeutics.com
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