Spero Therapeutics and Pfizer Enter into Regional Licensing Agreement for SPR206, a Next-Generation Polymyxin Antibiotic for Multidrug-Resistant Gram-Negative Infections

SHANGHAI, July 5, 2021 /PRNewswire/ -- Everest Medicines (HKEX: 1952.HK), a biopharmaceutical company focused on the development and commercialization of innovative medicines and dedicated to addressing unmet medical needs in Greater China and other markets in Asia, announced today that its partner Spero Therapeutics, Inc. (Nasdaq: SPRO) has entered into a regional license agreement with Pfizer Inc. (NYSE: PFE) for SPR206. SPR206 is Spero's next-generation intravenous polymyxin candidate being developed for the treatment of serious infections caused by multidrug-resistant (MDR) Gram-negative bacteria in hospital settings.

Under the terms of the license agreement, Spero has granted Pfizer the rights to develop, manufacture, and commercialize SPR206 in territories outside the United States and Asia. In exchange, Spero is eligible to receive up to $40 million in equity investment and $80 million in development and sales milestone payments, as well as high-single-digit to low-double-digit royalties on net sales of SPR206 in those territories. Spero will also receive a $40 million equity investment from Pfizer as part of the Pfizer Breakthrough Growth Initiative, which focuses on funding innovative science to meet patient needs.

Pursuant to the license agreement announced by Everest Medicines and Spero Therapeutics in January 2019, Everest Medicines holds exclusive rights to develop, manufacture, and commercialize SPR206 for the treatment of multidrug-resistant (MDR) Gram-negative bacterial infections in Greater China, South Korea, and certain Southeast Asian countries. The agreement was amended in January 2021 to assign the relevant patent rights for SPR206 in the aforementioned territories to Everest Medicines. The license agreement between Spero Therapeutics and Pfizer will not affect Everest Medicines' rights to SPR206.

Dr. Kerui Bo, M.D., Chief Executive Officer of Everest Medicines, stated: “This transaction significantly enhances the potential of SPR206 as an innovative therapy for multidrug-resistant Gram-negative bacterial infections, which pose a critical global public health challenge. Pfizer is a leader in anti-infective therapeutics, and its decision to collaborate with Spero on this important asset underscores Everest Medicines' strategic vision and forward-looking approach to selecting and developing promising, high-value drug candidates globally. We look forward to contributing to the broad and rapid clinical development of SPR206 and remain committed to addressing the challenges posed by multidrug-resistant Gram-negative bacterial infections.”

RegardingSPR206

SPR206 is a potential best-in-class novel polymyxin antibiotic designed to mitigate the nephrotoxicity associated with the current clinical use of polymyxin B and colistin. Polymyxins are often utilized as a last-resort therapy against multidrug-resistant (MDR) Gram-negative bacterial infections; however, their clinical use is associated with significant neurotoxicity and nephrotoxicity. In a double-blind, placebo-controlled Phase 1 clinical trial conducted in healthy volunteers by Spero Therapeutics, a partner of Everest Medicines, SPR206 demonstrated favorable tolerability within the potential therapeutic range for target MDR Gram-negative bacterial infections. More importantly, it showed no evidence of nephrotoxicity across the studied dose ranges.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on the development and commercialization of innovative medicines, dedicated to addressing unmet medical needs in the Greater China region and other markets in Asia. The management team at Everest Medicines possesses deep expertise and extensive experience in high-quality clinical development, regulatory affairs, chemistry, manufacturing and controls (CMC), business development, and operations in China and internationally. Everest Medicines has developed a portfolio of eight drug candidates with the potential to become global first-in-class or best-in-class, most of which are already in late-stage clinical trials. The company's therapeutic areas include oncology, autoimmune diseases, cardio-renal diseases, and infectious diseases. For more information, please visit the company's website:www.everestmedicines.com.