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October 01, 2021
Cadwalader advised HealthCare Royalty Partners on a revenue financing agreement for up to $125 million for Spero Therapeutics, Inc. (NASDAQ: SPRO), a multi-asset clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing treatments in high unmet need areas involving multi-drug resistant bacterial infections and rare diseases. Spero plans to use the proceeds from the agreement and existing cash on hand to prepare for the anticipated launch of tebipenem HBr, seen as a breakthrough drug for urinary tract infections, as well as to support the continued clinical development of other novel therapeutics.
HealthCare Royalty Partners purchases royalties and uses debt-like structures to invest in commercial or near-commercial stage life science assets. HealthCare Royalty Partners has $5.9 billion in cumulative capital commitments, with offices in Stamford (CT), San Francisco, Boston and London.
The Cadwalader team was led by partner Ira Schacter and included senior attorney Tyler Carson and associate Alexander Locke.
