LEO Pharma Secures Global Rights to Spevigo in $105M Deal

LEO Pharma has struck a major deal to acquire exclusive global commercial rights for Spevigo (spesolimab) from Boehringer Ingelheim for US $105 million upfront, with milestone payments and royalties expected later. Spevigo is a humanized monoclonal antibody targeting the IL‑36 receptor, approved for generalized pustular psoriasis (GPP)—a rare, potentially life‑threatening skin disease characterized by painful pustular flares. Boehringer has already launched the therapy in more than 40 countries, including the US, Japan, China, and Europe.

Under the agreement, LEO Pharma will lead global commercialization and further development of Spevigo, leveraging its deep expertise in dermatology. Both companies will explore expanding the therapy into other IL‑36–mediated skin conditions such as palmoplantar pustulosis and hidradenitis suppurativa. The transition is expected to finalize before year‑end, pending regulatory clearance.

The transaction strengthens LEO’s dermatology pipeline, counterbalancing a previous trial disappointment, and aligns with its ambitions to scale ahead of a potential IPO in 2026. For Boehringer, handing over Spevigo will expand patient access through LEO’s global reach and dermatology focus