Spero Therapeutics secured a $105 million non-dilutive royalty financing deal with Healthcare Royalty, a KKR affiliate. The financing relies on future milestones and royalties from Utebzi, an antibiotic licensed to GSK.
Spero also signed an exclusive licensing agreement with Innovent Biologics for the antibody therapy SP001, also known as IBI355. The deal provides an upfront payment and potential milestones of up to $1.1 billion. Spero will develop and commercialize the therapy outside of Greater China.
The company will use the combined proceeds to fund the Phase 2 development of SP001. These transactions extend Spero’s cash runway into the second half of 2029. Spero’s stock rose in premarket trading following the announcements.