Pfizer invests in Spero and licenses its antimicrobial
Massachusetts, USA-based biotech Spero Therapeutics (Nasdaq: SPRO) saw its shares close up 17.4% at $16.39 yesterday, after it announced a licensing and equity investment deal with pharma giant Pfizer (NYSE: PFE).
Pfizer has made a $40 million equity investment in Spero as part of the Pfizer Breakthrough Growth Initiative, a program focused on funding innovative science to meet patient needs.
The two parties have also entered into a licensing agreement for SPR206, Spero’s intravenously (IV)-administered next-generation polymyxin product candidate being developed to treat serious multi-drug resistant (MDR) Gram-negative infections in the hospital setting.
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