MoFo represented Everest Medicines II Limited, an emerging markets biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products, in its exclusive collaboration and licensing arrangement with Spero Therapeutics, Inc. (Nasdaq: SPRO) to develop, manufacture and commercialize SPR206 in Greater China, South Korea and certain Southeast Asian countries. The partnership includes a 12-month exclusive option to obtain rights to SPR741 in the region.
Spero Therapeutics, Inc. is a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments for multidrug-resistant (MDR) bacterial infections. SPR206 and SPR741, two intravenous (IV)-administered product candidates from Spero's Potentiator Platform, are being developed as innovative options to treat MDR Gram-negative bacterial infections.
Under the collaboration and licensing arrangement, Spero will receive an upfront payment of US$2 million and is eligible to receive milestone payments of up to an additional US$59.5 million upon achievement of specified clinical, regulatory and commercial milestones related to SPR206. Additionally, Spero will be eligible to receive high single-digit to low double-digit royalties on any sales of SPR206 products in the region following regulatory approval. Everest will also pay Spero a US$1 million upfront fee for its exclusive 12-month option to rights to SPR741.
The MoFo team is led by Hong Kong/Shanghai corporate partner Chuan Sun, with support from Beijing associate Sarah Wang and Hong Kong associate Alex Cao.