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Sutro Biopharma Earns Milestone Payment from Cytokine Derivatives Collaboration with Merck
- Initiation of an IND enabling toxicology study for the first program under the 2018 collaboration on cytokine derivatives earns a $15 million milestone
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Initiation of an IND enabling toxicology study for the first program under the 2018 collaboration on cytokine derivatives earns a $15 million milestone payment from Merck\n\n\nSOUTH SAN FRANCISCO, Calif., April 15, 2021 /PRNewswire/ -- Sutro Biopharma, Inc. (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 that Merck, known as MSD outside the United States and Canada, will make to Sutro a $15 million milestone payment for the initiation of an IND enabling toxicology study for the first program in its collaboration to develop novel cytokine derivative therapeutics for cancer and autoimmune disorders. In July 2018, Sutro entered into a collaboration with Merck to jointly discover and develop best-in-class immune-modulating cytokine derivatives for both oncology and autoimmune indications. \n\"The advancement of this first candidate into an IND enabling toxicology study represents an important preclinical milestone in our collaboration, led by Merck's deep understanding and leadership within immuno-oncology and Sutro's strength in precise protein design and optimization through its proprietary cell-free synthesis approaches,\" said Bill Newell, Chief Executive Officer of Sutro. \"We are pleased with the continued progress in our collaboration with Merck and will continue our efforts towards developing novel therapeutics to improve outcomes and expand much-needed treatment options for cancer patients.\"\nUnder the terms of the 2018 Merck collaboration agreement, Sutro has been primarily responsible for preclinical research and development of cytokine derivatives utilizing Sutro's proprietary cell-free protein synthesis and site-specific conjugation platforms, XpressCF® and Xpress CF+™. Merck has exclusive worldwide rights to therapeutic candidates derived from the collaboration. In March 2020, Merck exercised its option to extend the first research term of the program by one year, which generated a payment of $5.0 million to Sutro.\nAbout Sutro BiopharmaSutro Biopharma, Inc., located in South San Francisco, is a clinical-stage drug discovery, development and manufacturing company. Using precise protein engineering and rational design, Sutro ...