Business
Vaxcyte Exercises Option and Enters into Manufacturing Rights Agreement with Sutro Biopharma to Obtain Control Over Manufacturing and Development of Cell-Free Extract for its Vaccine Candidates
-- Vaxcyte Obtains Exclusive Rights to Independently Develop and Manufacture Cell-Free Extract, a Key Component of the Company’s Pneumococcal Conjugate
About this update from Vaxcyte, Inc.
[{"type":"text","content":"-- Vaxcyte Obtains Exclusive Rights to Independently Develop and Manufacture Cell-Free Extract, a Key Component of the Company’s Pneumococcal Conjugate Vaccine (PCV) Franchise -- -- Manufacturing Rights Agreement Further Strengthens Vaxcyte’s Long-Term, Global Commercial Manufacturing Strategy as Lead PCV Candidate, VAX-24, Advances into Phase 3 -- SAN CARLOS, Calif. and SOUTH SAN FRANCISCO, Calif., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Vaxcyte) (NASDAQ: PCVX) and Sutro Biopharma, Inc. (Sutro) (NASDAQ: STRO) today announced that Vaxcyte has exercised its option and entered into a manufacturing rights agreement with Sutro to obtain control over the development and manufacture of cell-free extract, a key component of Vaxcyte’s pneumococcal conjugate vaccine (PCV) franchise, which includes VAX-24 and VAX-31. Pursuant to the manufacturing rights agreement, Vaxcyte obtained exclusive rights to independently, or through certain third parties, develop, improve and manufacture cell-free extract for use in connection with the Company’s vaccine candidates. “As we advance our lead PCV candidate, VAX-24, into late-stage clinical development, exercising the option to establish a manufacturing rights agreement with Sutro enables us to have full control over the development and manufacturing of cell-free extract for our vaccine candidates,” said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. “This is another important step in Vaxcyte’s long-term commercial manufacturing strategy to support the potential global commercialization of our PCV candidates, VAX-24 and VAX-31, for both adult and pediatric populations.” “Sutro is pleased to support Vaxcyte as an independent developer and manufacturer of cell-free extract for its vaccine candidates, including its PCV franchise, and we look forward to continuing the decade-long relationship between our companies,” said Bill Newell, Chief Executive Officer of Sutro. “Over the past year, Vaxcyte has made significant progress with its VAX-24 clinical program, reporting positive results for two Phase 2 studies in adults. The XpressCF® cell-free protein synthesis platform and cell-free extract are essential in the development of Vaxcyte’s vaccine candidates, which further highlights the value of our platform capabilities.” Upon exercising the option, which was granted pursuant ...