You are, as per the comments, probably better off using a parsing library to iterate the DOM structure but if you can make some assumptions about the html you'll be parsing, you could do something like below:
var html = "<td class=\"Labels\"> CODE (Sp Number): </td><td width=\"40.0%\"> KLE3KAN918D429</td>";
var labelIndex = html.IndexOf("<td class=\"Labels\">");
var pctIndex = html.IndexOf("%", labelIndex);
var closeIndex = html.IndexOf("<", pctIndex);
var key = html.Substring(pctIndex + 3, closeIndex - pctIndex - 3).Trim();
System.Diagnostics.Debug.WriteLine(key);
Likely quite brittle but sometimes quick and dirty is all that is required.