Spero Therapeutics Inc (SPRO) News & EventsSPRONews & EventsSpero Therapeutics Inc

Spero Therapeutics and Innovent Biologics Sign SP001 Exclusive License Valued at $1.1B

Spero Therapeutics (SPRO) and Innovent Biologics (IVBXF) announced an exclusive license agreement for SP001, a third-generation Fc-silent anti-CD40L antibody. Spero will receive exclusive rights to develop, research, manufacture, and commercialize SP001 worldwide, excluding Greater China, where Innovent retains rights. Spero currently expects to advance SP001 into a Phase 2 study in IgG4-RD patients in Q2 2027; Innovent expects to initiate a Phase 2 trial in China for SjD by early 2027. Under the terms of the license agreement, Spero will receive exclusive rights to develop, research, manufacture, and commercialize SP001 worldwide, excluding Greater China. Innovent will receive an upfront payment and is eligible to receive development, regulatory and commercial milestone payments, bringing total value of the deal to approximately $1.1B. Innovent is also eligible to receive tiered royalties on net sales generated in Spero's licensed territories.

Spero Therapeutics Lands $105M Non-Recourse Royalty Financing with Healthcare Royalty

Spero Therapeutics announced a $105M non-recourse non-dilutive royalty financing transaction with affiliates of Healthcare Royalty, a business of KKR. Under the agreement, HCRx will receive a portion of future milestone and royalty payments associated with sales of Utebzi - tebipenem pivoxil -. The proceeds will primarily be used to support advancement of Spero's lead immunology drug candidate, SP001, a Phase 2-ready, anti-CD40L monoclonal antibody with potential for development across a range of immune-mediated diseases. The financing was completed concurrently with the execution of an exclusive license agreement with Innovent Biologics for the SP001 asset and follows last month's U.S. approval of Spero Therapeutics-developed Utebzi for complicated urinary tract infections. Following the transaction, Spero updates its cash runway guidance into the second half of 2029. Under the terms of the agreements, HCRx will provide Spero with a $105M payment at closing, net of original issue discount and applicable fees, in exchange for rights to anticipated payments from sales of Utebzi owing from GSK. HCRx will receive quarterly principal and interest payments, derived solely from the GSK payments due to Spero, until the loan balance is repaid. Following repayment, Spero will retain 35% of subsequent GSK payments related to sales of Utebzi, preserving potential long-term upside from the asset.