GlaxoSmithKline (GSK) and Spero Therapeutics shake hands. The two companies have signed an exclusive license agreement that will allow GSK to develop and market an oral antibiotic to treat complicated urinary tract infections, including pyelonephritis, caused by certain bacteria. The antibiotic is called tebipenem pivoxil HBr.
GSK will receive an exclusive license to develop and market the antibiotic in all countries except Japan and other Asian states, where Spero Therapeutics partner Meji Seika will retain those rights.
Under the license agreement, Spero Therapeutics will be responsible for the execution and costs of the remaining phase III clinical trial of tebipenem HBr. GSK will be responsible for the performance and costs of further clinical development, including marketing and regulatory filing activities for tebipenem HBr in the countries listed above.
GSK will make an upfront payment to Spero Therapeutics of 66 million dollars to guarantee the rights of the drug. The remaining potential payments are based on certain milestones, according to the pharmaceutical company in a statement.
GSK has agreed to make a $9 million investment in Spero Therapeutics securities
In addition, GSK has agreed to make a $9 million investment in Spero Therapeutics, purchasing 7.4 million shares. The transactions are expected to close in the fourth quarter of 2022, subject to customary closing conditions.
Headquartered in Cambridge, Massachusetts, USA, Spero Therapeutics is a clinical-stage, multi-asset biopharmaceutical company specializing in identifying, developing and commercializing novel treatments for bacterial infections, including multidrug-resistant bacterial infections and rare diseases.
Spero Therapeutics is developing SPR720 as a novel oral therapy candidate for the treatment of a rare orphan lung disease caused by non-tuberculous mycobacterial infections. It also has an intravenously administered next-generation polymyxin candidate product, SPR206, developed from its enhancer platform, which is in development to treat multidrug-resistant gram-negative infections in the hospital setting.