Rui Santos Ivo elected as new chair at EMA

EMA’s management board has elected Rui Santos Ivo as chair for a three-year period, succeeding Lorraine Nolan who will complete her mandate March 21. Santos Ivo is president of the Portuguese National Authority of Medicines and Healthcare Products and associate professor of medicines regulation at the University of Lisbon’s Faculty of Pharmacy.

Sutro Biopharma Inc. (NASDAQ:STRO) is replacing CEO Bill Newell with President with COO Jane Chung amid a 50% staffing cut and portfolio reprioritization. The antibody-drug conjugate company is deprioritizing luveltamab tazevibulin as it continues to seek a partner for the FOLR1 ADC, which has reached Phase II/III testing. Sutro plans to advance three wholly owned preclinical programs including STRO-004, an exatecan ADC targeting TF, which is slated to enter the clinic in 2H25. The company had $316.9 million in cash at YE24 with its cash runway expected into at least 4Q26...