Biota Pharmaceuticals Inc. recently announced the completed sale of its assets relating to its broad spectrum antibiotic program to a new subsidiary of Spero Therapeutics LLC.
Spero is a biopharmaceutical company based in Cambridge, Massachusetts that was founded to develop novel therapies to treat bacterial infections.
Joseph Patti, Ph.D., president and CEO of Biota, said that the recent sale gives Biota the chance benefit economically in regards to the company’s antibiotic assets in its infectious disease portfolio. It also allows Biota to focus its attention and resources on antiviral programs that are designed to address infections with limited therapeutic options. According to Patti, Biota is pleased that Spero will be taking over the early stages of the antibiotic program due to Spero’s expertise when it comes to the development of anti-infectives.
The financial terms of the deal remain undisclosed at this time.