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