Spero to receive $66M up front, ~$150M in development, ~$150M in a commercial on first sale (US/EU) & ~$225M in sales milestones along with royalties, if sales exceed $1B, $9M in shares of Spero common stock. The transactions are expected to close in Q4’22
GSK to get an exclusive license to develop & commercialize tebipenem pivoxil & tebipenem pivoxil HBr in all territories (Ex- Japan & other Asian countries). Spero will lead the execution & costs of the follow-up P-III trial of tebipenem HBr while GSK will responsible for additional development, incl. P-III regulatory filing & commercialization activities for tebipenem HBr outside of the Meiji Seika territory
The new P-III trial is expected to be initiated in 2023. If tebipenem HBr is approved, it will be 1st oral carbapenem antimicrobial to receive marketing approval in the US
Ref: Globenewswire | Image: GSK
