Everest Medicines: Spero Therapeutics, Pfizer In Deal For SPR206 In Ex-U.S. And Ex-Asia Territories

(RTTNews) - China's Everest Medicines announced Monday that its licensing partner Spero Therapeutics, Inc. (SPRO) entered into a regional licensing agreement with Pfizer Inc. (PFE) for SPR206 in territories excluding U.S. and Asia.

SPR206 is Spero's intravenously or IV-administered next-generation polymyxin product candidate being developed to treat serious multi-drug resistant or MDR Gram-negative infections in the hospital setting.

Under the licensing deal terms, Spero has granted Pfizer the rights to develop, manufacture, and commercialize SPR206 in ex-U.S. and ex-Asia territories. In exchange for these rights, Spero is eligible to receive up to $80 million in development and sales milestones, and high single digit to low double-digit royalties on net sales of SPR206 in these territories.

Pfizer has also made a $40 million equity investment in Spero as part of the Pfizer Breakthrough Growth Initiative, a program focused on funding innovative science to meet patient needs.

Everest Medicines, under a licensing agreement with Spero announced in January of 2019, has exclusive rights to develop, manufacture and commercialize SPR206 in Greater China, South Korea and certain Southeast Asian countries for the treatment of MDR Gram-negative bacterial infections.

The licensing agreement was amended in January 2021 for the assignment of relevant patents for SPR206 in the Territory to Everest. The latest license agreement between Spero and Pfizer will have no impact on Everest's rights for SPR206.