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Business
Sutro And Celgene Advance Drug Pact
by Rick Mullin
November 3, 2014
| A version of this story appeared in
Volume 92, Issue 44
Sutro Biopharma and Celgene have embarked on a new collaboration around multispecific antibodies and antibody-drug conjugates (ADCs) in which Celgene will have exclusive rights to acquire Sutro. Under the agreement, Sutro will receive payments totaling $95 million, which includes an undisclosed equity investment. Sutro may also receive up to $90 million more during the initial term of the agreement. The new research engagement broadens a 2012 collaboration to develop ADCs and bispecific antibodies for two undisclosed targets.
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