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Sutro and Celgene sign a pharma deal for $1 billion

Posted on 24 October 2014

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Sutro Biopharma has entered a pharma deal and option agreement with Celgene to discover and develop antibodies and antibody drug conjugates.

This agreement follows a collaboration dating back to 2012 between the two companies that focused on immuno-oncology.

The two companies will establish on focused targets including PD-1 and PD-L1, as well as new targets that use Sutro’s biologic department platforms.

Across all product candidates, Sutro will be eligible to receive approximately $1 billion in total payments upon the achievement of clinical and regulatory milestones.

Sutro will be responsible for the early pre-clinical development of all the collaboration multispecific antibodies, as well as the manufacturing of pre-clinical product candidates.

The company will also retain worldwide rights to drugs, in the event that Celgene does not exercise its option to acquire Sutro.

For further deal information visit Current Agreements (subscription required)

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