Close to two years after Celgene closed its first development deal with Sutro Biopharma, the prolific partnering machine at the big biotech has come back and taken an option on buying the company and its antibody-drug conjugates and bispecifics. And Celgene is expanding their collaboration to include immuno-oncology drugs, the hottest R&D field in biotech.
A few things struck us while gathering this year's class of the Fierce 15, our 12th annual take on some of the most noteworthy private biotech upstarts making headway these days.
Sutro Biopharma has landed another marquee name for its list of development partners for antibody-drug conjugates. Merck KGaA, which has been struggling in the clinic for years, has signed on with the San Francisco-based biotech, offering a $300 million package of milestones along with some unspecified research support.
Amgen, Celgene and Eli Lilly joined forces with some prominent venture players to back a $26 million round for Sutro Biopharma, a San Francisco-based biotech which has been garnering some careful scrutiny for its work on antibodies.
Sanofi Pasteur and Sutro Biopharma will hook up to produce two undisclosed vaccine candidates.
Antibody-drug conjugates are hot. Next-gen ADCs are even hotter. So Celgene has turned to the upstart ADC developers at Sutro Biopharma, promising a package of more than $500 million in upfront fees, an equity stake, R&D support and milestones in exchange for some fine-tuned products. And the biotech says that it is hot on the trail of more deals.
Skyline Ventures led the second $16.5 million closing of the San Francisco-based startup's Series C round, which included backing from Amgen Ventures, Lilly Ventures, Alta Partners and SV Life Sciences.
Sutro Biopharma has landed a multi-year collaboration with Pfizer for the research, development and commercialization of novel peptide-based therapeutics. Financial details of the deal were not
With the help of a pair of corporate venture arms, San Francisco-based Sutro Biopharma raised $36.5 million for its Series C. That money is earmarked for the further development of the biotech's