Shooting for PhIII, Spero tees up a new lead antibiotic in-licensed cheap as it lines up $86M IPO
Late last week Spero Therapeutics threw its S-1 into the IPO ring as the biotech queue for jumping into the public arena was growing longer by the day.
Spero got started with some seed funding from Atlas Venture and a high-profile partnership with Roche, but that pact ended last year without nearly as much fanfare as it was originally announced.
The biotech’s lead antibiotic is SPR994, an oral formulation of the carbapenum-class antibiotic tebipenem, which Spero in-licensed from Meiji Seika with a very modest upfront of $600,000, with up to $3 million in milestones. The Japanese company won an approval for this antibiotic in 2009 and handed over data on 1200 patients. The therapy is sold as Orapenem.
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