Spero Therapeutics Announces Exclusive License with Innovent Biologics for SP001 (IBI355) and $105 Million Non-Recourse, Non-Dilutive Financing Backed by a Portion of Utebzi Milestones and Royalties

Spero Therapeutics Announces Exclusive License with Innovent Biologics for SP001 (IBI355) and $105 Million Non-Recourse, Non-Dilutive Financing Backed by a Portion of Utebzi Milestones and Royalties

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Spero Therapeutics, Inc. (NASDAQ: SPRO), a clinical-stage biopharmaceutical company focused on advancing next-generation medicines in immunology and inflammation for patients with serious diseases and significant unmet medical needs, announced an exclusive license agreement with Innovent Biologics for the worldwide rights (excluding Greater China) to develop and commercialize SP001, a third-generation monoclonal antibody targeting CD40L, as well as certain backup and derivative CD40L-targeting monoclonal antibodies. Concurrently with the execution of the license agreement, Spero entered into a $105 million non-recourse, non-dilutive royalty financing transaction with HealthCare Royalty, pursuant to which Spero sold senior secured notes and a portion of its milestone and royalty interests under a license agreement with GSK. The proceeds from the financing will primarily be used to support the advancement of SP001 which has the potential for development across a range of immune-mediated diseases.

WilmerHale advised Spero in the transaction.

The WilmerHale corporate team consisted of Lisa Firenze, Caroline Dotolo, Erin Bruynell Gallagher, Jane Cha and Jaclyn Schofield. The WilmerHale licensing team consisted of Steven Barrett, Eugena Liu, Mat Trachok, Fred Adam, Deric Geng, Wenli Gu and Carla Gilbertson. The WilmerHale royalty financing team consisted of George Shuster, Nathan Moore, Lauren Lifland, Dana Bradley, Maria Kanevsky, Meghan Walsh, Tim Silva, Andrew Walsh and Cynthia Sullivan.

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