GSK: licensing agreement with Spero Therapeutics
(CercleFinance.com) - GSK announced on Thursday that it has signed an exclusive licensing agreement with US-based Spero Therapeutics to commercialise an experimental antibiotic for the treatment of complicated urinary tract infections.
The partnership will enable GSK to distribute the drug, called "tebipenem HBr", in all regions of the world excluding Japan and certain Asian countries.
Spero plans to start a phase III clinical trial of the drug next year, following positive feedback from the US FDA on the trial design.
Under the terms of the agreement, Spero Therapeutics will receive an upfront payment of 66 million dollars, which may be accompanied by further milestone payments, as well as possible "royalties" on future sales of the product.
GSK also intends to acquire nine million Spero common stock for 7.4 million dollars at yesterday's closing stock price.
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