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Sutro Biopharma Earns Milestone Payment from Bispecific Antibody-Drug Conjugate Collaboration with Merck KGaA, Darmstadt, Germany
SOUTH SAN FRANCISCO, Calif., June 1, 2021 /PRNewswire/ -- Sutro Biopharma, Inc. (NASDAQ: STRO), clinical-stage drug discovery, development and manufacturing
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"SOUTH SAN FRANCISCO, Calif., June 1, 2021 /PRNewswire/ -- Sutro Biopharma, Inc. (NASDAQ: STRO), 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 that it has received a milestone payment under its collaboration and license agreement with the healthcare division of Merck KGaA, Darmstadt, Germany, related to a patient enrollment achievement in the Phase 1 dose escalation and expansion study of M1231 in adult patients with metastatic solid tumors, including non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma. M1231 is an investigational bispecific antibody-drug conjugate (ADC) targeting MUC1-EGFR. \n\"The robustness and flexibility of our cell-free platform and our wholly-owned manufacturing facility have enabled the discovery and early clinical supply of M1231,\" said Bill Newell, Chief Executive Officer of Sutro. \"The continuing progress of the program is indicative of the commitment both parties have made to drive development of M1231 and represents an important achievement in the work of the collaboration to address unmet medical needs of cancer patients.\"\nTrevor Hallam, Ph.D., Sutro's President of Research and Chief Scientific Officer added, \"This partnership demonstrates the combined strength of Sutro and Merck KGaA, Darmstadt, Germany to expand the boundaries of antibody-drug conjugate. M1231 is a first-in-class investigational bispecific ADC; by targeting both MUC1 and EGFR, M1231 could potentially increase tumor selectivity, payload delivery, and reduce on-target toxicity on normal tissues.\"\nM1231 was generated using Sutro's XpressCF® and Sutro's XpressCF+™ cell-free protein synthesis and conjugation technologies and includes a Sutro proprietary linker-warhead. The ADC is based on Merck KGaA, Darmstadt, Germany's strand-exchange engineered domain (SEED) antibody platform. As part of the agreement, Sutro is manufacturing the antibody and linker-warhead for the early clinical supply and is eligible for further payments and tiered royalties ranging from low to mid-single digit percentages, along with certain additional one-time royalties, on worldwide sales of any commercial products that may result from the collaboration. Mer...