Celgene, Sutro Revise ADC PactBy
Sutro Biopharma, a San Francisco, California-headquartered biopharmaceutical company, has revised its previous collaboration with Celgene for antibody drug conjugates (ADCs). Celgene has also terminated an earlier option to acquire Sutro.
Specifically, Sutro has refocused its 2014 immuno-oncology collaboration with Celgene on four programs that are advancing through preclinical development, including an ADC program targeting the B-cell maturation antigen (BCMA). Sutro may also produce both GLP (good laboratory practice) and cGMP (current good manufacturing practice) material as the BCMA ADC program progresses.
These programs are in addition to Sutro’s proprietary pipeline, which includes two investigational new drug (IND) candidates for which the company hopes to file INDs in 2018. These drug candidates are STRO-001, an ADC targeting CD74, a cell-surface protein associated with B-cell malignancies, including non-Hodgkin lymphoma and multiple myeloma, and STR0-002, an ADC that targets folate receptor alpha which is overexpressed in platinum-resistant ovarian cancer and other solid tumors. Sutro is also advancing six ADC programs under its 2014 collaboration with Merck KGaA.
In the 2014 agreement, Celgene had worldwide rights to the first collaboration program to reach IND status. Under the newly modified agreement, Celgene can acquire worldwide rights to a second collaboration program to reach IND status. Sutro will retain US development and commercialization rights, and Celgene will retain ex-US rights, to the next two programs to reach IND status from the four programs. Under the revised agreement, Sutro receives an undisclosed amount upon signing of the revised agreement and continues to be entitled to development and regulatory milestone payments and royalties.
To acquire worldwide rights to the second program to reach IND status, Celgene must make payments to Sutro in undisclosed amounts. In addition, Sutro grants Celgene the right to purchase shares of Sutro stock in a future private financing and a right to purchase shares in a private placement contemporaneous with an initial public offering by Sutro.
Source: Sutro Biopharma