(RTTNews) – Innovent Biologics, Inc (IVBXF) said on Tuesday it entered into an exclusive licensing agreement with Spero Therapeutics, Inc. (SPRO) for IBI355, a third-generation Fc-silent anti-CD40L antibody being developed for autoimmune diseases.
Under the agreement, Innovent will receive an upfront payment and is eligible for development, regulatory and commercial milestone payments, bringing the potential value of the deal to about $1.1 billion. The company is also entitled to tiered royalties on net sales generated in Spero’s licensed territories.
Spero will receive exclusive rights to develop, manufacture and commercialize IBI355 worldwide, excluding Greater China, where Innovent will retain rights.
IBI355 has been evaluated in two Phase 1 studies in healthy volunteers. Innovent has also completed a Phase 1b study in patients with Sjögren’s disease, a chronic autoimmune disorder with limited treatment options.
Spero expects to initiate a Phase 2 trial of IBI355 in IgG4-related disease, a rare, chronic and progressive autoimmune disorder, in the second quarter of 2027.
Innovent plans to begin a Phase 2 study in China for Sjögren’s disease by early 2027.
Innovent Biologics shares closed 1.07% higher at HK$90.05 on the Hong Kong Stock Exchange on Tuesday, while Spero Therapeutics shares fell more than 6% in pre-market trading after ending Monday’s session at $2.18 on the Nasdaq Global Select Market.
