GSK Secures Urinary Tract Infections Treatment License With Spero Therapeutics

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 [e-mail]

(END) Dow Jones Newswires

September 22, 2022 02:35 ET (06:35 GMT)

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