GSK Secures Urinary Tract Infections Treatment License With Spero Therapeutics
September 22 2022 - 01:50AM
Dow Jones News
By Michael Susin
GSK PLC said Thursday that it has signed an exclusive license
agreement with Spero Therapeutics Inc. to commercialize tebipenem
HBr, an antibiotic currently in late-stage studies that may treat
complicated urinary tract infections.
The pharmaceutical giant said the deal allows GSK to
commercialize the treatment in all regions, except for Japan and
certain other Asian countries.
The agreement includes a payment to Spero of $66 million
upfront, along with potential for future milestone payments and
tiered royalties.
GSK will also purchase $9 million in shares of Spero common
stock, representing 7.45 million shares at a price of around $1.2 a
share, it said. The purchase won't exceed the 19.99% ownership of
Spero by GSK and its affiliates, it added.
Spero will start a new phase III clinical trial in 2023,
following the positive U.S. Food and Drug Administration regulatory
feedback on the clinical trial design.
"Tebipenem HBr complements GSK's infectious disease strategy and
is consistent with our commitment to find value-enhancing
opportunities to build a strong late-stage portfolio. Tebipenem HBr
has a clear U.S. FDA regulatory path to potential approval, which
could significantly benefit patients with complicated urinary tract
infections," Chief Commercial Officer Luke Miels said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
September 22, 2022 02:35 ET (06:35 GMT)
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