Business
Sutro Biopharma and Tasly Biopharmaceuticals Enter into Exclusive License Agreement for STRO-002 in Greater China
- Tasly obtains exclusive development and commercialization rights for STRO-002 for Greater China - - License includes a $40 million upfront payment to Sutro,
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Tasly obtains exclusive development and commercialization rights for STRO-002 for Greater China -\n - License includes a $40 million upfront payment to Sutro, and potentially up to $345 million in development and commercial milestone payments -\n - Partnership builds on the current progress and strength of ongoing clinical trials for STRO-002 in ovarian and endometrial cancer -\n\n\nSOUTH SAN FRANCISCO, Calif. and SHANGHAI, Dec. 27, 2021 /PRNewswire/ -- Sutro Biopharma, Inc. (\"Sutro\") (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, today announced an exclusive license agreement with Tasly Biopharmaceuticals Co., Ltd. (hereinafter referred to as \"Tasly\"), a holding subsidiary of Tasly Pharmaceutical Group Co., Ltd. (SHA:600535) for the development and commercialization of STRO-002 in Greater China, consisting of mainland China, Hong Kong, Macau and Taiwan. STRO-002 is a FolRα-targeting antibody-drug conjugate (ADC), currently in clinical studies for patients with ovarian and endometrial cancers in the U.S. and Europe. \nUnder the terms of the agreement, Sutro will receive an upfront payment of $40 million and be eligible to receive potentially up to $345 million in development and commercial milestone payments. Tasly will pursue the clinical development, regulatory approval, and commercialization of STRO-002 in Greater China for ovarian and endometrial cancers, with the potential to expand to further oncological indications including non-small cell lung cancer (NSCLC) and triple-negative breast cancer (TNBC). Sutro retains development and commercial rights of STRO-002 outside of Greater China. Sutro will be responsible for the clinical trial and initial commercial supply of STRO-002 for trials in the licensed territory pursuant to a supply agreement according to customary terms. Upon commercialization, Sutro will receive tiered, double-digit royalties based on annual net sales of STRO-002 in Greater China. \nKaijing Yan, Chairman of the Board, said, \"We are delighted to gain access to this promising drug, which has the potential to be the best-in-class FolRα ADC for patients with debilitating cancers, including ovarian cancer and potentially FolRα...