Shares of Innovent Biologics (ASX: 01801) have climbed more than 3%. At the time of writing, the stock is up 3.28% to HK$93, with a trading turnover of HK$101 million.

Recent Developments

On July 14th, the company announced it has entered into an exclusive licensing agreement with Spero Therapeutics, Inc. (NASDAQ: SPRO) for IBI355, a third-generation Fc-silent anti-CD40L antibody, which was previously under Spero's development code SP001.

Under the terms of the agreement, Innovent Biologics has granted Spero exclusive rights to develop, research, manufacture, and commercialize IBI355 globally, excluding the Greater China region. Innovent Biologics retains all rights to the product within Greater China.

Clinical Trial Plans

Spero intends to initiate a Phase II clinical study for IBI355 in patients with IgG4-RD in the second quarter of 2027. Innovent Biologics plans to commence a Phase II clinical study for IBI355 in the treatment of SjD in China by early 2027.

Financial Terms

As part of the agreement, Innovent Biologics will receive an upfront payment, along with development, registration, and sales milestone payments, in a deal valued at approximately $1.1 billion. The company will also be entitled to receive tiered royalties on future net sales of the product.