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news.Biota Pharmaceuticals has completed the sale of assets related to its broad spectrum antibiotic program to a newly formed subsidiary of Spero Therapeutics, a Cambridge-based biopharmaceutical company founded to develop novel therapies for the treatment of bacterial infections.
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Financial terms of the transaction were not disclosed.
"This transaction gives us the opportunity to economically benefit from the antibiotic assets in our infectious disease portfolio and to fully focus our resources on our clinical-stage direct antiviral programs aimed at addressing infections with limited therapeutic options," said Joseph Patti, Ph.D., president and chief executive officer of Biota.
"We are pleased that the investigation of this early stage antibiotic program will be continued by Spero, an organization with significant expertise in the development of anti-infectives."
"Spero is continuing to pioneer new approaches to treat serious infections. As we look to advance our programs into the clinic, these assets from Biota will support our mission of finding innovative treatments for serious bacterial infections," said Ankit Mahadevia, M.D., Co-founder and Chief Executive Officer of Spero.