Sutro, Celgene deal
Sutro granted Celgene an exclusive, ex-U.S. license to develop and commercialize cancer immunotherapies using Sutro's cell-free protein synthesis technology. Additionally, Sutro granted Celgene an exclusive option to acquire the company at an undisclosed time. The companies said they will investigate both novel targets and established ones, including programmed cell death 1 ( PDCD1; PD-1; CD279) and programmed cell death 1 ligand 1 ( PD-L1; B7-H1; CD274), and apply Sutro's Xpress CF and Xpress CF+ technologies to develop multi-specific antibodies and antibody-drug conjugates (ADC). Sutro will be responsible for discovery, preclinical development and manufacturing. Sutro received $95 million up front, including an equity investment that increased Celgene's increased stake in Sutro to about 15%. ...