Pfizer Invests $40 Million in Spero Therapeutics, Licenses SPR206
Pfizer Inc. has invested $40 million in Spero Therapeutics and secured licensing rights for the development and commercialization of the SPR206 drug candidate outside the U.S. and Asia.
NEW YORK – Pfizer Inc. has made a $40 million equity investment in Spero Therapeutics and acquired licensing rights to develop and commercialize the SPR206 drug candidate in territories outside the U.S. and Asia. Spero Therapeutics focuses on treatments for multi-drug resistant bacterial infections and rare diseases.
The investment was made through the Pfizer Breakthrough Growth Initiative, a program supporting innovative science. Under the licensing agreement, Spero is eligible to receive up to $80 million in development and sales milestones, plus high single-digit to low double-digit royalties on SPR206 sales. Spero plans to use the proceeds to prepare for the potential approval and launch of tebipenem HBr, and to support the ongoing clinical development of SPR720 and SPR206.
SPR206 is a next-generation, intravenously administered polymyxin drug candidate intended for the treatment of serious multi-drug resistant gram-negative bacterial infections in hospitals. Spero has completed a Phase 1 first-in-human study of SPR206, where the candidate was generally well tolerated with no evidence of nephrotoxicity at anticipated therapeutic doses. Spero has also initiated a clinical study assessing SPR206's penetration into the lungs.
The investment is expected to extend Spero's cash runway into the second half of 2022. Pfizer has previously aimed to strengthen its position in combating antimicrobial resistance through investments and acquisitions.