Spero Therapeutics announced it has entered into an exclusive licensing agreement with Innovent Biologics for SP001, a Phase 2-ready anti-CD40L antibody. Concurrently, the company secured $105 million in non-dilutive, non-recourse financing by monetizing a portion of future royalties and milestones from its agreement with GSK. These transactions are intended to fund the development of SP001 and have extended the company's cash runway into the second half of 2029.
Key Details
- Innovent License Agreement: Spero will pay Innovent a $35 million upfront payment for exclusive worldwide rights (excluding Greater China) to develop and commercialize SP001. Innovent is also eligible for up to $1.05 billion in milestone payments and tiered royalties.
- Royalty Financing: The company received $105 million from Healthcare Royalty Management, secured by future proceeds from its tebipenem HBr (Utebzi) agreement with GSK. After the initial financing is repaid, Spero will retain 35% of all subsequent GSK payments.
- Clinical & Strategic Plan: Spero plans to initiate a Phase 2 trial for SP001 in patients with IgG4-related disease (IgG4-RD) in the second quarter of 2027. The financing extends the company's operational cash runway into 2H 2029.