• Under the terms of the agreement, Spero will receive exclusive global rights, excluding Greater China, to develop, research, manufacture, and commercialize SP001 (IBI355)
• Innovent will receive an upfront payment, and is eligible to receive development, regulatory and commercial milestone payments, totaling approximately US$1.1 billion, as well as tiered royalties on net sales
• Spero plans to initiate a Phase 2 trial for SP001 in Q2 2027 in IgG4-related disease (IgG4-RD), a serious, chronic fibroinflammatory condition with significant treatment burden and limited therapeutic options
• Innovent plans to initiate a Phase 2 trial in China by early 2027 for Sjögren’s disease (SjD), a chronic autoimmune disorder with limited therapeutic options

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