Sutro Biopharma, Inc. · NASDAQ:STRO
Sutro Biopharma — Investor Presentation (May 2025)
28 slides from Sutro Biopharma's investor presentation, May 2025
Slide 1: Sutro Biopharma
Sutro Biopharma May 2025 NASDAQ: STRO 1 NON CONFIDENTIAL
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than sta
Slide 3: Next-Generation ADCs Designed to Address Critical Treatment Gaps in Oncology
Next-Generation ADCs Designed to Address Critical Treatment Gaps in Oncology Well-capitalized with runway into at least 4Q 2026; partnership milestone payments expected within 12 months • Harness platform and data-driven insights to drive pipeline of significant commercial opportunities • Invest in
Slide 4: ADCs Designed to Engage Hard-to-Reach Targets with Single- and Dual-Payloads
ADCs Designed to Engage Hard-to-Reach Targets with Single- and Dual-Payloads Pursuing complex targets enabled by our proprietary technology, differentiating from conventional ADCs Pursuing Multi-Payload ADCs Developing ADCs for Complex, Validated Targets to Combat Resistance and Expressed Across Tum
Slide 5: Unlocking Capital and Expertise Through Strategic XpressCF Partnerships
5 Unlocking Capital and Expertise Through Strategic XpressCF® Partnerships* Partnerships provide up to $2B in potential milestones and royalties Highlights strength of Sutro's proprietary iADC platform and ability to engineer complex dual-antibody conjugates Validates our technology through partners
Slide 6: A Leader in Next-Gen ADCs
A Leader in Next-Gen ADCs Pursuing Complex, High-Value Targets Enabled by XpressCF® 6 NON CONFIDENTIAL
Slide 7: Wider Therapeutic Index Achieved with Sutro's Cell-Free ADC Platform
Wider Therapeutic Index Achieved with Sutro’s Cell-Free ADC Platform Key Sutro Technologies to Improve ADCs Outside the Tumor Linker & payload design MTD ADC Click chemistry Site specific conjugation MTD ADC Antibody engineering TI TI MED ADC Focused R&D Strategy – Make ADCs Better Inside the Tumor
Slide 8: XpressCF Platform has Unique ADC Performance Capabilities Over Other Topo1 ADC Platforms
Our XpressCF® Platform has Unique ADC Performance Capabilities Over Other Topo1 ADC Platforms Beta-Glu ADC2/ iADC/ Site HT DAR>8 Fc Silent Bispecific Linker Dual LPs iSAC Specific Screening Abbvie AstraZeneca Daiichi Sankyo Dualitybio Genequantum Genmab Gilead Hansoh Hengrui Kelun Lilly Medilink Mer
Slide 9: Cell-Free Approach Enables Industry-Leading ADC Exposure
9 Cell-Free Approach Enables Industry-Leading ADC Exposure Comparison of Exposure Levels in NHPs at Highest Non-Severely Toxic Dose (HNSTD) Levels in DAR Equivalents 6000 STRO-ADC Why does it matter? DAR4 Conjugated PL Exposure [h ug/mL] 5000 STRO-ADC STRO-004 • For ADCs, exposure drives efficacy 40
Slide 10: STRO-004
STRO-004 Potential Best-in-Class Exatecan ADC Targeting TF 10 NON CONFIDENTIAL
Slide 11: STRO-004: Next-Generation TF-Targeting Exatecan/Topo1 ADC with Enhanced Therapeutic Potential
STRO-004: Next-Generation TF-Targeting Exatecan/Topo1 ADC with Enhanced Therapeutic Potential Optimally Designed for Improved Clinical Benefits, Increased Tolerability Leads Enhanced Stability, Potency and Tumor Selectivity to Enhanced Drug Exposure • Exatecan payload: Clinically validated with pote
Slide 12: STRO-004 DAR8 Exatecan Achieved Sustained Tumor Regressions in Xenograft Models
STRO-004 DAR8 Exatecan Achieved Sustained Tumor Regressions in Xenograft Models of NSCLC and HNSCC at Low Doses Lung (TF+++) Head and Neck (TF++) H1975 Growth Curves Detroit562 Growth Curves 1500 1500 (mm3)3) (mm33)) 1250 1250 Volume(mm volume(mm 1000 1000 Tumor Volume TumorVolume 750 750 500 500 Tu
Slide 13: STRO-004 Demonstrated Reduced Platform and On-target Toxicity
STRO-004 Demonstrated Reduced Platform and On-target Toxicity Due to Site Specific Conjugation and Beta Glu Linker-Payload Technology In Vitro STRO-004 Tolerability Profile vs. Approved aTF ADC Eye Inflammation Skin Toxicities Human Corneal Epithelial Cells Human Keratinocytes STRO-004 (DAR8-exateca
Slide 14: STRO-004: Well-Tolerated in NHP
STRO-004: Well-Tolerated in NHP up to 50 mg/kg Objective: HNSTD: 50 mg/kg HNSTD: 100 mg/kg Compare nonclinical safety of DAR8 and DAR4 TF exatecan-ADC DAR 8 DAR 4 10000 10000 Study: 1000 1000 Dosed twice, three weeks apart, Conc. [ug/mL] Conc. [ug/mL] 100 100 payload-matched doses 10 10 1 1 Findings
Slide 15: STRO-004 Shows Promising Anti-tumor Activity In TF Positive PDX Models
STRO-004 Shows Promising Anti-tumor Activity In TF Positive PDX Models of HNSCC, NSCLC, Esophageal, and Cervical Cancer > 50% of Tumors Respond to STRO-004 at Low Dose STRO-004 Best response vs TF expression 150 Tumor volume change (%) 100 50 0 -50 -100 TF expression 15 NON CONFIDENTIAL
Slide 16: TF is Broadly Expressed Across Multiple Solid Tumor Indications
TF is Broadly Expressed Across Multiple Solid Tumor Indications with High Unmet Need, Presenting Opportunity for Pan-Tumor Targeting TF expression has been associated with poor disease prognosis and increased metastatic properties Tissue Factor-Expressing Cancers Estimate Of Newly-Diagnosed TF+ Pati
Slide 17: STRO-006 (Integrin αvβ6 / ITGB6)
STRO-006 (Integrin αvβ6 / ITGB6) Potential Best-in-Class Integrin-Beta 6 ADC 17 NON CONFIDENTIAL
Slide 18: Complex ITGB6 Biology Requires Advanced Protein Engineering Capabilities
Complex ITGB6 Biology Requires Advanced Protein Engineering Capabilities Integrin Family Integrin αvβ6 Conformations • ITGB6 belongs to integrin family of adhesion proteins, heterodimerizes with alpha-v (αvβ6) • Exists in multiple confirmations – makes it a challenging protein to target ITGB6 – Inte
Slide 19: ITGB6 is Widely Expressed Across Multiple Solid Tumors
ITGB6 is Widely Expressed Across Multiple Solid Tumors Weighted Avg. Min Max 120% 100% 97% 100% 92% 98% 80% 84% 74% Expression % 77% 68% 68% 57% 60% 69% 64% 59% 43% 53% 37% 36% 40% 44% 35% 35% 35% 33% 30% 20% 26% 21% 18% 15% 12% 12% 0% Pancreatic Non-melanoma Cervical Esophageal Head and Neck Ovaria
Slide 20: Emerging Leader in Dual Payload ADCs
Emerging Leader in Dual Payload ADCs 20 NON CONFIDENTIAL
Slide 21: Dual-Payload ADCs: Innovative Method for Delivering Targeted Combination Therapy
Dual-Payload ADCs: Innovative Method for Delivering Targeted Combination Therapy to Overcome Resistance and Delay Progression ADC + Chemo ADC + ADC Dual Payload ADC Potential benefits of a dual- payload ADCs for targeted combination therapy Safety Improved tolerability (Compared to small Through red
Slide 22: Dual-Payload ADC Displays Enhanced In Vivo Efficacy in Ovarian Cancer
Dual-Payload ADC (Topo1i + anti-Tubulin) Displays Enhanced In Vivo Efficacy in Ovarian Cancer IGROV-1 - Tumor Growth IGROV-1 - Survival IGROV-1 - Time to Tumor Quadrupling Relative Tumor Volume (%) 1500 100 100 Percent Survival Percent survival 75 75 1000 50 50 500 25 25 0 0 0 0 20 40 60 80 100 0 20
Slide 23: iADC: Dual-Payload ADC Combining Tumor-Targeted Delivery of a Cytotoxin and Immune Stimulator
iADC: Dual-Payload ADC Combining Tumor-Targeted Delivery of a Cytotoxin and Immune Stimulator Strategic Partnership with Astellas to Deliver New Treatment Options for Cold Tumors and Patients Unresponsive to Existing Cancer Immunotherapies Combining a cytotoxin and immune modulator gives potential t
Slide 24: Novel Mechanism of Action Differentiates iADCs from Other Immunotherapies
Novel Mechanism of Action Differentiates iADCs from Other Immunotherapies Sutro iADCs bridge innate and adaptive immunity to provide broad Sutro STING / PD-1 / CAR-T protection in a single molecule ISAC Vaccine iADC TLR PDL-1 Cells Molecule Targeted and Chemo Mixed ADC Ab Biologic Biologic homogeneo
Slide 25: XpressCF Enables Development of Differentiated Dual-Payload ADCs
XpressCF® Enables Development of Differentiated Dual-Payload ADCs, Leveraging Unique Combinations of Validated Targets Dual-Payload ADCs Have the Potential to Become Future Standard of Care Topo1 x Tubulin Topo1 x PARPi Topo1 x IO Selected Indications Selected Indications Selected Indications • NSCL
Slide 26: Clinical and Corporate Priorities
Clinical and Corporate Priorities Sutro's Wholly-Owned Programs STRO-004 2H 2025: IND filing and first-in-human studies planned Exatecan ADC Targeting Tissue Factor 2026: Phase 1a/b dose escalation data expected 2027: Phase 1a/b dose expansion data expected (initial response data anticipated 1H 2027
Slide 27: Pipeline of Next-Generation ADCs Designed to Engage Hard-to-Reach Targets
Pipeline of Next-Generation ADCs Designed to Engage Hard-to-Reach Targets with Single- and Dual-Payloads WORLDWIDE OR PHASE 3/ GEOGRAPHIC PROGRAM MODALITY/TARGET INDICATION DISCOVERY PRECLINICAL PHASE 1/1B PHASE 2 REGISTRATIONAL PARTNER WHOLLY-OWNED PROGRAMS STRO-004 Tissue Factor ADC Solid Tumors S
Slide 28: Sutro Team Comprised of Industry Leaders
Sutro Team Comprised of Industry Leaders Jane Chung, RPh Hans-Peter Gerber, PhD Barbara Leyman, PhD Chief Executive Officer Chief Scientific Officer Chief Business Officer Ed Albini, MBA David Pauling, JD, MA Venkatesh Srinivasan, PhD Chief Financial Officer Chief Administrative Officer and Chief Te