Sutro Biopharma Raises USD 85.4m Financing to Advance Cancer Therapeutics Pipeline.
M2 PHARMA-July 30, 2018-Sutro Biopharma Raises USD 85.4m Financing to Advance Cancer Therapeutics Pipeline
(C)2018 M2 COMMUNICATIONS
- South San Francisco, California-based clinical-stage drug discovery, development and manufacturing company Sutro Biopharma, Inc. has secured USD 85.4m in Series E financing to advance its wholly-owned pipeline of novel cancer therapeutics, the company said.
Proceeds will also be used to further early stage programs and continued platform technology advancement.
The financing was led by Samsara BioCapital and Surveyor Capital, and supported by current investors, Alta Partners, Amgen Ventures, Celgene Corp., Lilly Ventures, Skyline Ventures and SV Health Investors.
This financing also includes first-time investments from Eventide, Nexthera Capital, Vida Ventures and funds managed by Tekla Capital Management LLC. Additionally, Merck, known as MSD outside the US and Canada, has made an investment and has made a commitment to a future investment.
The company's pipeline includes two internally-developed antibody drug conjugates (ADCs) known as STRO-001, now in Phase 1 clinical testing for lymphoma and multiple myeloma, and STRO-002, which is expected to enter clinical trials for ovarian and endometrial cancer by early 2019.
STRO-001 and STRO-002 were developed using Sutro's proprietary cell-free protein synthesis and site-specific conjugation platforms, which facilitate precision design and rapid empirical optimization of protein conjugates to treat cancer and other diseases.
Sutro Biopharma is a creating a broad variety of next-generation protein therapeutics for oncology based on its proprietary, cell-free protein synthesis platform, XpressCF.
The company designs cytokine-based immuno-oncology therapies, antibody-drug conjugates, and bispecific antibodies primarily directed at clinically-validated targets for which the current standard of care is suboptimal.
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|Date:||Jul 30, 2018|
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