Financing supports Phase 2 development of SP001, Spero's first immunology drug candidate, in-licensed from Innovent Biologics
Transaction unlocks immediate value from future Utebzi (tebipenem pivoxil) milestones and royalties, and positions Spero to participate in potential long-term commercial upside
Spero updates its cash runway guidance into the second half of 2029
CAMBRIDGE, Mass., July 14, 2026 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO), a clinical-stage biopharmaceutical company focused on advancing next-generation medicines in immunology and inflammation, today announced a $105 million non-recourse non-dilutive royalty financing transaction with affiliates of Healthcare Royalty, a business of KKR (HCRx). Under the agreement, HCRx will receive a portion of future milestone and royalty payments associated with sales of Utebzi™ (tebipenem pivoxil). The proceeds will primarily be used to support advancement of Spero's lead immunology drug candidate, SP001, a Phase 2-ready, Fc-silent, third-generation anti-CD40L monoclonal antibody with potential for development across a range of immune-mediated diseases.
"Over the past year, in collaboration with GSK, we successfully advanced Utebzi through FDA approval, while executing on our strategy to strengthen Spero and position the Company for its next phase of growth. This transaction further strengthens our balance sheet and provides non-dilutive capital as we embark on an immunology-focused strategy," said Esther Rajavelu, President and Chief Executive Officer of Spero Therapeutics. "By unlocking immediate value from a portion of future Utebzi milestone and royalty streams, we are well positioned to execute on the clinical development for SP001 and continue building a differentiated pipeline for patients with immune-mediated diseases."
The financing was completed concurrently with the execution of an exclusive license agreement with Innovent Biologics for the SP001 asset and follows last month's U.S. approval of Spero Therapeutics-developed Utebzi for complicated urinary tract infections. Spero Therapeutics has granted GSK an exclusive license to develop and commercialize Utebzi in all territories, except certain territories in Asia, where Meiji holds development and commercialization rights. Following the transaction, Spero updates its cash runway guidance into the second half of 2029.
"We are pleased to partner with Spero on this acquisition of certain Utebzi milestones and royalties. As the first approved oral carbapenem therapy, Utebzi represents a meaningful innovation and value proposition for patients, physicians and payers," said Clarke Futch, Chairman and CEO of HealthCare Royalty.