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GSK To Receive Licence From Spero To Develop, Commercialise Tebipenem Pivoxil HBr

GSK plc (GSK,GSK.L) and Spero Therapeutics, Inc. (SPRO) have entered into a licence agreement for tebipenem pivoxil hydrobromide or tebipenem HBr, a late-stage antibiotic being developed by Spero, as the first oral carbapenem antibiotic to potentially treat complicated urinary tract infections.

GSK will receive an exclusive licence to develop and commercialise tebipenem pivoxil HBr in all countries except Japan and certain other Asian countries. Spero will be responsible for the execution and costs of the remaining phase III clinical trial. GSK will be responsible for the execution and costs of additional clinical development, including regulatory submission and commercialisation activities.

GSK will make an upfront initial payment to Spero of $66 million. Remaining potential payments are milestone-based. GSK has agreed to make a $9 million investment in Spero common stock, not to exceed 19.99% beneficial ownership of Spero by GSK and its affiliates.

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