Spero in-licenses SP001 anti-CD40L antibody from Innovent, secures $105M non-dilutive financing

Spero Therapeutics, Inc.

In-licensed SP001 (anti-CD40L) from Innovent; Spero gets ex-China rights. Upfront $35M, milestones up to ~$1.05B, tiered royalties high single to mid-teen %.
SP001 Phase 2-ready; Spero plans Phase 2 in IgG4-RD in Q2 2027. Innovent plans Phase 2 in SjD in China by early 2027.
Secured $105M non-recourse notes from HCRx (KKR) at 10% interest, 9-year maturity, backed by Utebzi milestones/royalties from GSK.
Cash runway extended into H2 2029; proceeds to fund SP001 development.
Spero retains 35% of GSK proceeds after note repayment; HCRx gets 65% after note repayment.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.