Sutro Biopharma Achieves “First in Human” Milestone in Cytokine Derivatives Collaboration with Merck

On July 26, 2022 Sutro Biopharma, Inc. ("Sutro" or the "Company") (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), reported that the first patient has been dosed in a Phase 1 study of an investigational candidate resulting from the collaboration between Sutro and Merck, known as MSD outside the United States and Canada, for the development of a novel cytokine derivative therapeutic for the treatment of cancer (Press release, Sutro Biopharma, JUL 26, 2022, View Source [SID1234616952]). As a result of this milestone, Sutro will receive a $10 million payment from Merck.

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"We are pleased with the progress of this next-generation biologic candidate, from discovery to clinical development for patients with advanced or metastatic solid tumors," said Bill Newell, Chief Executive Officer of Sutro. "This milestone reflects the strong synergistic collaboration between Merck’s biological expertise in the field of immuno-oncology and Sutro’s prowess in designing, engineering, and manufacturing complex biologics that incorporate site-specific conjugation. We are excited about the potential this therapeutic may have for cancer patients."

Under the terms of the July 2018 collaboration agreement between Sutro and Merck, Sutro has been primarily responsible for preclinical research and development, as well as manufacturing, 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.