UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
As previously disclosed, Finch Therapeutics Group, Inc. (the “Company”) and the University of Minnesota (“UMN”) have been engaged in ongoing litigation with Rebiotix Inc. and Ferring Pharmaceuticals Inc. (collectively, “Ferring”) with respect to certain of the Company’s and UMN’s patents, which case went to trial in the U.S. District Court for the District of Delaware on August 5, 2024. The trial involved a total of five asserted patent claims from three patents. Two claims were asserted from each of United States Patents 10,675,309 and 11,541,080 owned by the Company, and one claim was asserted from United States Patent 10,251,914 owned by UMN. On August 9, 2024, the jury rendered a verdict finding that Ferring had infringed the asserted claims, that such infringement was willful, that one claim each from the ’309 and ’080 patents was invalid, and that the remaining claims were not invalid. The jury awarded royalty damages to the Company and UMN in the amount of a $25.0 million upfront payment and $0.815 million in running royalties for commercial sales of Rebyota, a microbiome-based therapy for the treatment of recurrent infection of Clostridioides difficile marketed by Ferring Pharmaceuticals Inc., for the period between its commercial launch through the date of trial. The Company expects Ferring to file post-trial motions and pursue an appeal of any judgment entered on the jury’s verdict.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FINCH THERAPEUTICS GROUP, INC. | ||||||
| Date: August 12, 2024 | By: | /s/ Matthew P. Blischak | ||||
| Matthew P. Blischak | ||||||
| Chief Executive Officer | ||||||