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– Tasly obtains the exclusive development and commercialization rights for STRO-002 for Greater China –
– The license includes a $ 40 million upfront payment to Sutro, and potentially up to $ 345 million in development and commercial milestone payments –
– The partnership builds on current progress and the strength of ongoing clinical trials for STRO-002 in ovarian and endometrial cancer –
SOUTH SAN FRANCISCO, California and SHANGHAI, Dec. 27 2021 / PRNewswire / – Sutro Biopharma, Inc. (“Sutroâ€) (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and a rational design to create next-generation cancer and autoimmune therapeutics, today announced an exclusive licensing agreement with Tasly Biopharmaceuticals Co., Ltd. (hereinafter referred to as “Tasly”), a holding subsidiary of Tasly Pharmaceutical Group Co., Ltd. STRO-002 in Greater China, composed of the continent China, Hong Kong, Macau and Taiwan. STRO-002 is an antibody-drug conjugate (ADC) targeting FolRα, currently in clinical studies for patients with ovarian and endometrial cancer in the United States and Europe.
Under 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 continue the clinical development, regulatory approval and commercialization of STRO-002 in Greater China for ovarian and endometrial cancers, with the potential to spread to other oncologic indications, including non-small cell lung cancer (NSCLC) and triple negative breast cancer (TNBC). Sutro retains the development and commercial rights to 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 on customary terms. Upon commercialization, Sutro will receive double-digit tiered royalties based on annual net sales of STRO-002 in Greater China.
Kaijing Yan, Chairman of the Board, said, “We are delighted to have access to this promising drug, which has the potential to be the best-in-class ADC FolRα for patients with debilitating cancers, including ovarian cancer and potentially expressing FolRα. There is a huge unmet need for cancer patients in the Greater China and we envision the future development and commercialization of STRO-002 to meet these needs. “
Bill Newell, CEO of Sutro added, “This agreement further validates our emerging clinical data surrounding the development of STRO-002. Tasly is an excellent partner for our Greater China collaboration, with a history of successful execution for the development and commercialization of therapeutic products. We are delighted to expand the geographic footprint of STRO-002 and allow better access for cancer patients to a possible new treatment option. “
About Tasly Biopharmaceuticals
Tasly Biopharmaceuticals was founded in 2001 and has over 20 years of experience in independent research and development and commercialization of biopharmaceuticals. As a leading innovative biopharmaceutical company in China, Tasly Biopharmaceuticals has a commercialization platform integrating research and development, manufacturing and sales. The company is one of the few pharmaceutical companies in China who can apply perfusion cell culture technology to long-term large-scale commercial production; the company has successfully developed and commercialized its flagship biologic, Pro-UK (Recombinant human pro-urokinase for injection), which has great potential to become a successful thrombolytic drug in China.
The company is focused on the development of biopharmaceuticals in the three therapeutic areas, including cardio-cerebrovascular, oncology and autoimmunity, as well as digestive tract and metabolism, and currently has 16 products in the biopharmaceutical pipeline. The company aims to provide Chinese patients with affordable and first-class / best-class biologic drugs to meet growing and unmet clinical needs in targeted therapeutic areas.
About Sutro Biopharma
Sutro Biopharma, Inc., located at South San Francisco, is a clinical-stage drug discovery, development and manufacturing company. Using precise protein engineering and rational design, Sutro advances next-generation oncology therapies.
The proprietary and integrated XpressCF® cell-free protein synthesis platform and the XpressCF + â„¢ site-specific conjugation platform led to the discovery of STRO-001 and STRO-002, the first two ADCs developed in-house by Sutro . STRO-001 is a CD74-targeting ADC currently under investigation in a Phase 1 clinical trial for patients with advanced B-cell malignancies and has received orphan drug designation from the FDA for multiple myeloma. STRO-002, an ADC targeting the alpha folate receptor (FolRα), is currently under investigation in a Phase 1 clinical trial for patients with ovarian and endometrial cancer and has received Fast Track designation from the FDA for ovarian cancer. A third product candidate, CC-99712, an ADC targeting BCMA, which is part of Sutro’s collaboration with Bristol Myers Squibb, formerly Celgene Corporation, is recruiting patients for its Phase 1 clinical trial in patients with multiple myeloma and has received the orphan drug designation. from the FDA. A fourth product candidate, M1231, a first-in-class bispecific MUC1-EGFR ADC, which is part of Sutro’s collaboration with Merck KGaA, Darmstadt, Germany, known as EMD Serono in the United States and Canada (EMD Serono), is recruiting patients for its Phase 1 clinical trial in patients with metastatic solid tumors, non-small cell lung cancer (NSCLC) and squamous cell carcinoma of the esophagus. These four product candidates are from Sutro’s XpressCF® and XpressCF + â„¢ technology platforms. Bristol Myers Squibb and EMD Serono have worldwide development and commercialization rights for CC-99712 and M1231, respectively, for which Sutro is entitled to milestone or conditional payments and milestone royalties. Sutro recently announced a partnership with BioNova Pharmaceuticals to develop and commercialize STRO-001, an antibody-drug conjugate (ADC) targeting CD74, for patients with hematologic cancers, in Greater Chinaincluding the mainland China, Hong Kong, Macau and Taiwan.
Sutro is dedicated to transforming the lives of cancer patients by creating drugs with improved treatment profiles for areas where needs are unmet. To date, Sutro’s platform has led to ADCs, bispecific antibodies, cytokine-based immuno-oncology therapies, and vaccines against previous targets in clinical indications where the current standard of care is under- optimal.
The platform enables him to accelerate the discovery and development of potential first-class and first-class molecules through rapid and systematic evaluation of structure-activity relationships of proteins to create optimized homogeneous product candidates. In addition to developing its own oncology pipeline, Sutro collaborates with selected pharmaceutical and biotechnology companies to discover and develop new next-generation therapies.
Follow Sutro on Twitter, @Sutrobio, and at www.sutrobio.com to learn more about our passion to change the future of oncology.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, planned preclinical and clinical development activities, timing announcements of clinical results, the benefits of the Company’s product candidates and platform, potential future milestone and royalty payments, and potential market opportunities for the Company’s product candidates. All statements other than statements of historical fact are statements which could be considered as forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of the development of biotechnology and potential regulatory approval are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause the Company’s actual activities or results to differ materially from those expressed in any forward-looking statement, including risks and uncertainties relating to the Company’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, the impact of the COVID-19 pandemic on the Company’s business, clinical trial sites , the supply chain and manufacturing facilities, the Company’s ability to maintain and recognize the benefits of certain nominations received by product candidates, the timing and results of preclinical and clinical trials, the Company’s ability to fund development activities and to achieve the development objectives, the capacity of the Company é to protect intellectual property, the value of Vaxcyte ordinary shares held by the Company and the Company’s commercial collaborations with third parties and other r risks and uncertainties described under the heading “Risk factors†in the documents that the Company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the Company assumes no obligation to revise or update any forward-looking statements to reflect events or circumstances subsequent to the date hereof.
Contact Sutro Biopharma
Annie j chang
Sutro Biopharma
(650) 801-5728
ajchang@sutrobio.com
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