CAMBRIDGE, Mass., May 25, 2016 /PRNewswire-USNewswire/ -- Spero Therapeutics, LLC, a biopharmaceutical company founded to develop novel therapies for the treatment of bacterial infections, today announced that it has entered into an agreement with Vertex Pharmaceuticals to acquire worldwide rights to VXc-486/VXc-100 and a portfolio of innovative antibacterial compounds targeted at bacterial gyrase (GyrB) and/or topoisomerase IV (ParE).
Under the terms of the agreement, Spero will make an upfront payment to Vertex for portfolio rights and assume responsibility for drug development and bringing the compounds to market. Vertex will be eligible to receive future development and commercial milestones, plus royalties on any therapeutic products resulting from the agreement.
"We believe that the Vertex molecules have immense potential for the treatment of drug-resistant infections," said Ankit Mahadevia, M.D., Chief Executive Officer of Spero. "We are working to rapidly advance them into the clinic for multiple applications treating patients with serious bacterial infections."
Spero is a biopharmaceutical company developing a pipeline of novel treatments for bacterial infections and is located in Cambridge, Massachusetts. The company's pipeline of anti-infective agents is one of the most unique in the industry. Spero is pioneering an entirely new therapeutic platform; this approach has yielded multiple molecules that enhance the utility and potency of many classes of existing drugs to include possible utility against Gram-negative pathogens. Spero's DHFR program is exploring the expansion of a novel antifolate's antibacterial spectrum to treat trimethoprim resistance isolates including Gram-negative pathogens. The investors in Spero include Atlas Ventures, SR One, MRL Ventures, Lundbeckfond Ventures, The Kraft Group, Osage Partners and The Partners Innovation Fund. For more information, please visit www.sperotherapeutics.com
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SOURCE Spero Therapeutics