Innovent Biologics Licenses IBI355 to Spero Therapeutics in Deal Worth Up to $1.1B

Innovent Biologics (1801) has entered into an exclusive license agreement with Spero Therapeutics (SPRO) for IBI355, a third-generation Fc-silent anti-CD40L antibody, according to Ming Pao. Under the terms, Spero will obtain exclusive global rights outside Greater China (mainland China, Hong Kong, Macau, and Taiwan) to develop, research, manufacture, and commercialize SP001 (IBI355). Innovent will receive an upfront payment, development, regulatory, and sales-based milestone payments totaling approximately $1.1 billion, as well as tiered royalties on future net sales of the product.