Mintz advised Spero Therapeutics, Inc. on the company’s agreement with Everest Medicines to collaborate on the development, manufacture and commercialization of Spero’s compound SPR206 in Greater China, South Korea and certain Southeast Asian countries (the “Territory”), along with an exclusive option to license SPR741 in the Territory. SPR206 and SPR741, two intravenous (IV)-administered product candidates from Spero’s Potentiator Platform, are being developed as innovative options to treat MDR Gram-negative bacterial infections. Based on microbiological and in vivo testing, Spero believes that SPR206 has the potential to offer a broad-spectrum of activity, including against extensively drug-resistant (XDR) bacterial strains, together with improved safety and tolerability compared with other molecules in its class. Spero initiated a Phase 1 clinical trial of SPR206 in December 2018, designed as a double-blind, placebo-controlled, ascending dose, multi-cohort study in healthy subjects.
Under the collaboration agreement, Spero will receive an upfront payment of $2 million and is eligible to receive milestone payments of up to an additional $59.5 million upon achievement of specified clinical, regulatory and commercial milestones related to SPR206, of which Spero anticipates receiving at least $2 million in near-term milestones during 2019. Furthermore, Spero will be eligible to receive high single-digit to low double-digit royalties on any sales of SPR206 products in the Territory following regulatory approval. Everest will also pay Spero a $1 million upfront fee for its exclusive 12-month option to rights to SPR741.
Spero is a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multidrug-resistant bacterial infections. Mintz previously advised Spero on its initial public offering (IPO), following on offerings and numerous license and collaboration transactions.
The Mintz team was led by Lewis Geffen and included Matthew Gardella, Scott Pinarchick, Matt Tikonoff and Brian Shea.