Pharma BD Deal Intelligence
Bold immunology pivot on a Fc-silent anti-CD40L; upstream master switch, early stage
Full analysis, sources & comparables →Innovent Biologics granted Spero Therapeutics an exclusive license to develop, manufacture and commercialize IBI355 (Spero code SP001), a Phase 2-ready third-generation Fc-silent anti-CD40L IgG1 antibody, worldwide excluding Greater China, where Innovent retains rights. Total deal value is approximately US$1.1 billion across an upfront payment and development, regulatory and commercial milestones, plus tiered royalties on net sales in Spero's territories. SP001 is designed to avoid the platelet-activation liabilities of earlier anti-CD40L antibodies. Spero plans to start a Phase 2 study in IgG4-related disease in Q2 2027; Innovent expects a Phase 2 trial in Sjogren's disease in China by early 2027. The deal marks Spero's strategic pivot into immunology and inflammation.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Spero Therapeutics, Inc. / Innovent Biologics, Inc. (this deal) | 2026 | $1.1B | 62 |
| Amgen Inc. / Immunex Corporation | 2002 | $16.0B | 92 |
| PerkinElmer, Inc. / EUROIMMUN Medizinische Labordiagnostika AG | 2017 | $1.3B | 88 |
| Vertex Pharmaceuticals Inc. / Alpine Immune Sciences | 2024 | $4.9B | 78 |
| Roche Holding AG / Genentech, Inc. | 2009 | $46.8B | 72 |
| Travere Therapeutics, Inc. / Everest Medicines Limited | 2026 | $1.1B | 72 |
| Amgen Inc. / Horizon Therapeutics plc | 2022 | $27.8B | 72 |
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More: 2026 deals · Immunology deals