Navigation Links
Sutro Biopharma Secures $36.5 Million in Series C Financing
Date:11/17/2010

SAN FRANCISCO, Nov. 17, 2010 /PRNewswire/ -- Sutro Biopharma today announced that the company has secured $36.5 million in Series C financing. This financing will support the company's ongoing development of novel biotherapeutics with superior pharmaceutical properties and advance the company's biochemical protein synthesis platform to meet current Good Manufacturing Practice (cGMP) standards.

Led by Skyline Ventures, the financing round, which consists of two tranches, includes participation from new investors, Lilly Ventures and Amgen Ventures, and existing investors, SV Life Sciences and Alta Partners. The first tranche of $20 million closed on Nov. 5.

"Skyline Ventures is delighted to lead this round of financing as we believe that Sutro's programs, technology and capabilities have significant market potential in many different applications," said Leon Chen, Ph.D., Partner at Skyline Ventures. "We believe that the novel biotherapeutics developed with Sutro's technology will effectively address the tremendous unmet needs that still remain in a wide variety of diseases."

In conjunction with the financing, Dr. Chen and Armen Shanafelt, Ph.D., Venture Partner at Lilly Ventures, have joined Sutro's board of directors.

William Newell, Chief Executive Officer of Sutro Biopharma, said, "Securing this major investment in the current economic environment demonstrates our investors' enthusiasm and belief in the transformative potential of our programs and our biochemical protein synthesis technology. The financing provides us with sufficient capital to drive our own programs to the clinic and to support our collaborative relationships, which focus on therapeutic proteins that have been inaccessible until now."

To date, the company has raised a total of $59.5 million in financing.

About Sutro BiopharmaSutro Biopharma is a biopharmaceutical company that develops and designs novel protein therapeutics and biosuperiors that have site-directed modifications, including modifications incorporating non-natural amino acids. Sutro's biochemical protein synthesis technology opens up opportunities to create protein therapeutics that cannot be produced using conventional methods. Sutro's technology enables the rapid and systematic exploration of many protein drug variants to identify drug candidates. Once identified, production of these protein drug candidates can be efficiently scaled to commercial levels. In addition to developing its own drug pipeline, Sutro Biopharma is collaborating with select pharmaceutical and biotechnology companies in the development of novel protein therapeutics that cannot be designed, produced or studied with current technologies.Media Contacts:David Schull or Martina Schwarzkopf, Ph.D.Russo Partners(212) 845-4271 (212) 845-4292 (347) 591-8785 (mobile)david.schull@russopartnersllc.commartina.schwarzkopf@russopartnersllc.com
'/>"/>

SOURCE Sutro Biopharma
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
2. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
3. Nabi Biopharmaceuticals Announces Continued Positive NicVAX Phase 2b Data at Nine Months
4. Keryx Biopharmaceuticals to Present at William Blair & Company Small-Cap Growth Stock Conference
5. Morria Biopharmaceuticals Plc Initiates Phase I Clinical Study of MRX-4 in Allergic Rhinitis
6. Keryx Biopharmaceuticals, Inc. Announces Positive Preliminary Phase 2 Data on KRX-0401 in Patients with Chemo-Insensitive Rare Sarcoma
7. Nabi Biopharmaceuticals Announces Successful Completion of NicVAX(R) Phase 2b Trial; Drug Shows Statistically Significant Rates of Smoking Cessation and Continuous Long-Term Smoking Abstinence at 12 Months
8. Inspiration Biopharmaceuticals Announces Filing of IND for Novel Recombinant Factor IX Product, IB1001, for the Treatment of Hemophilia B
9. Immunosyn Announces Biozyme Labs Receipt of MHRA Manufacturing License Approval in Europe for the Biopharmaceutical SF-1019
10. Keryx Biopharmaceuticals, Inc. Announces Phase 1 and Phase 2 Data on KRX-0401 (Perifosine) in Patients with Relapsed/Refractory Multiple Myeloma at 49th Annual Meeting of American Society of Hematology
11. XTL Biopharmaceuticals Presents Data Regarding its Hepatitis C Virus Small Molecule Program at Hep Dart 2007 - an International Scientific Conference on Viral Hepatitis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... -- Mettler-Toledo International Inc. (NYSE: MTD ) today ... the highlights: , Sales in local currency ... year.  Reported sales decreased 3% as currency reduced sales ... earnings per diluted share as reported (EPS) were $4.44, ... EPS was $4.65, an increase of 10% over the ...
(Date:2/4/2016)... -- In response to the opioid abuse epidemic, today Dr. ... Products and Tobacco, along with other FDA leaders, called for ... opioid medications. The plan will focus on policies aimed at ... to effective relief. --> ... risk-benefit paradigm for opioids and ensure that the agency considers ...
(Date:2/4/2016)... 2016  Blueprint Medicines Corporation (NASDAQ: BPMC ... selective investigational kinase medicines for patients with genomically ... board of directors of Lonnel Coats , ... of industry-related experience. Jeffrey Albers ... strong strategic experience developing and commercializing numerous oncology ...
Breaking Medicine Technology:
(Date:2/5/2016)... ... February 05, 2016 , ... ... the company's lighter, sleeker next generation LYNX VR Indoor Trainer with multi-rider capability ... in design and manufacturing not only reduce the weight of the unit, they ...
(Date:2/5/2016)... ... February 05, 2016 , ... The event is being ... Block Event Center in Minneapolis, Minn. Triumph Over Parkinson’s will fund nearly $100,000 for ... of Schneiderman’s Furniture, lives with Parkinson’s disease and is the architect of this informative ...
(Date:2/5/2016)... , ... February 05, 2016 , ... Looking for a ... be at the tips of your toes. Foot massage, whether administered by a professional ... comfort and relaxation. The American Board of Multiple Specialties in Podiatry (ABMSP) ...
(Date:2/5/2016)... ... 05, 2016 , ... The Lymphoma Research Foundation (LRF) – ... serving the lymphoma community through a comprehensive series of education programs, outreach initiatives ... Tasting Event at the La Gorce Country Club in Miami Beach on March ...
(Date:2/5/2016)... ... 2016 , ... The American public tends to feel uncomfortable about drinking recycled ... municipal or well water. The recent experience with lead contaminated water in Flint, Michigan, ... way toward increasing public acceptance of recycled waste water as drinking water. , ...
Breaking Medicine News(10 mins):