--- title: "Spero Therapeutics inks major CD40L and royalty deals" type: "News" locale: "en" url: "https://longbridge.com/en/news/292732573.md" description: "Spero Therapeutics announced a global license deal with Innovent Biologics for SP001, securing exclusive rights outside Greater China for up to $1.05 billion in milestones and royalties. Simultaneously, Spero raised $106.575 million via royalty financing backed by GSK tebipenem HBr proceeds. These moves aim to fund clinical development of SP001 and extend its cash runway into late 2029." datetime: "2026-07-15T08:11:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292732573.md) - [en](https://longbridge.com/en/news/292732573.md) - [zh-HK](https://longbridge.com/zh-HK/news/292732573.md) --- # Spero Therapeutics inks major CD40L and royalty deals The latest announcement is out from Spero Therapeutics ( (SPRO) ). On July 8, 2026, Spero Therapeutics signed a global license and cross-license deal with Innovent Biologics for SP001, granting Spero exclusive rights to develop and commercialize the third-generation anti-CD40L antibody outside Greater China while Innovent retains rights in that territory. The agreement includes a $35 million upfront payment, up to about $1.05 billion in potential development, regulatory and commercial milestones, tiered royalties, mutual CD40L-related non-compete commitments, and obligations for Spero to file a U.S. IND and pursue approvals in key markets. SP001 has already completed Phase 1 studies in healthy volunteers and a Phase 1b trial in Sjögren’s disease, with data presented at EULAR 2026, and is intended to address platelet activation risks associated with earlier anti-CD40L antibodies while offering a non-B-cell-depleting approach across immune-mediated diseases. Spero plans to begin a Phase 2 trial in IgG4-related disease in the second quarter of 2027, and Innovent aims to launch a Phase 2 trial in China for Sjögren’s disease by early 2027, positioning both companies to target significant unmet needs in chronic autoimmune and fibroinflammatory conditions. On the same date, Spero completed a royalty financing transaction with affiliates of Healthcare Royalty Management using special-purpose vehicles, issuing $105 million of senior secured notes backed mainly by milestone and royalty streams from its existing GSK tebipenem HBr license. In parallel, it sold 65% of the GSK-related proceeds arising after full repayment of the notes for $1.575 million, retaining 35% of those future cash flows, and provided a limited recourse guaranty, collectively bolstering its non-dilutive funding base. The financing structure, which is largely payable only from GSK tebipenem HBr milestone and royalty proceeds, allows Spero to monetize part of its infectious disease asset to fund its strategic shift toward immunology and inflammation while limiting recourse against broader corporate assets. The company estimates that net proceeds from this royalty deal, combined with its existing cash and cash equivalents, will extend its cash runway into the second half of 2029, supporting the build-out of its SP001-centered pipeline and associated clinical development plans. The most recent analyst rating on (SPRO) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Spero Therapeutics stock, see the SPRO Stock Forecast page. **Spark’s Take on SPRO Stock** According to Spark, TipRanks’ AI Analyst, SPRO is a Neutral. Overall score is driven primarily by improved but still inconsistent financial performance (profitability rebound offset by revenue decline and historically weak cash flow consistency). Technicals are a headwind due to bearish price action versus key moving averages and negative MACD. Valuation is supportive with a low P/E, while corporate events are mixed—FDA approval is positive but increased share authorization raises dilution risk. To see Spark’s full report on SPRO stock, click here. **More about Spero Therapeutics** Spero Therapeutics is a clinical-stage biopharmaceutical company focused on next-generation medicines in immunology and inflammation for patients with serious diseases and major treatment gaps. Its lead program is SP001, a third-generation, Fc-silent anti-CD40L monoclonal antibody being advanced first in IgG4-related disease, with broader potential across autoimmune and inflammatory conditions. Innovent Biologics, founded in 2011, is a leading biopharmaceutical company that discovers, develops, manufactures and commercializes innovative medicines targeting cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has 19 marketed products and multiple late-stage and early clinical assets, partnering with major global healthcare companies. On July 8, 2026, Spero Therapeutics entered a global license and cross-license agreement with Innovent Biologics for SP001, securing exclusive rights to develop, manufacture and commercialize the anti-CD40L antibody outside Greater China while granting Innovent rights in China and related territories. The deal includes a $35 million upfront payment, potential milestones of about $1.05 billion, and tiered royalties, alongside non-compete provisions on CD40L-targeting antibodies and commitments for Spero to advance SP001 into U.S. and major-market clinical development. SP001, already studied by Innovent in Phase 1 trials in healthy volunteers and a Phase 1b study in Sjögren’s disease with data shared at EULAR 2026, is positioned as a third-generation, Fc-silent IgG1 antibody designed to mitigate platelet activation risks seen with earlier anti-CD40L agents. Spero plans to move SP001 into a Phase 2 trial in IgG4-related disease in the second quarter of 2027, while Innovent expects to start a Phase 2 trial in China for Sjögren’s disease by early 2027, underscoring the partners’ push into immune-mediated indications with significant unmet need. Also on July 8, 2026, Spero executed a royalty financing transaction with affiliates of Healthcare Royalty Management, structuring non-recourse senior secured notes and a sale of a portion of future GSK tebipenem HBr milestones and royalties through special-purpose vehicles. The financing raised gross proceeds of $105 million in notes plus $1.575 million for a 65% interest in post-note GSK royalty and milestone streams, with Spero retaining 35% of those future proceeds and providing a limited recourse guaranty tied mainly to customary contractual liabilities. The royalty-backed funding, secured primarily against milestone and royalty payments from Spero’s existing exclusive license agreement with GSK for the tebipenem HBr program, strengthens the company’s balance sheet without recourse to most other assets. Based on its current plans and forecasted expenses, Spero estimates that net proceeds from this transaction, together with existing cash and equivalents, will support operating and capital needs into the second half of 2029, extending its cash runway as it pivots its pipeline toward immune-mediated diseases and advances SP001 into mid-stage clinical trials. **Average Trading Volume:** 1,174,212 **Technical Sentiment Signal:** Sell **Current Market Cap:** $126.2M ### Related Stocks - [SPRO.US](https://longbridge.com/en/quote/SPRO.US.md) - [01801.HK](https://longbridge.com/en/quote/01801.HK.md) - [GSK.US](https://longbridge.com/en/quote/GSK.US.md) - [GSK.UK](https://longbridge.com/en/quote/GSK.UK.md) - [GSK.WI.US](https://longbridge.com/en/quote/GSK.WI.US.md) ## Related News & Research - [Spero Therapeutics appoints Debra Jeske Zack as chief medical officer](https://longbridge.com/en/news/293929513.md) - [Scribe Therapeutics CFO David Parrot reports $ 39,990 common stock acquisition](https://longbridge.com/en/news/293991409.md) - [Kalaris Therapeutics’ Amy O’Leary Vandekop, associate VP and corporate controller, files initial beneficial ownership statement](https://longbridge.com/en/news/293969051.md) - [SEB Asset Management AB Makes New Investment in Viridian Therapeutics, Inc. $VRDN](https://longbridge.com/en/news/293727428.md) - [Stock Traders Purchase Large Volume of Call Options on Capricor Therapeutics (NASDAQ:CAPR)](https://longbridge.com/en/news/293785445.md)