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:2/24/2017)... NEW YORK , Feb. 24, 2017 ... Monteverde & Associates PC , a boutique securities ... New York City , announces that a ... of Massachusetts  against Inotek Pharmaceuticals ... purchasers of the Company,s securities between July 23, 2015 and ...
(Date:2/24/2017)... , Australie, le 24 février 2017 ITL Limited, ... santé diversifiée innovante, est ravie d,annoncer les excellents résultats ... la période précédente correspondante. Une présentation complète « Résultats et ... être consultée ici . Faits ... de 2,12 millions $ (Déc. 2015 : 1,04 million $ ; en hausse de ...
(Date:2/24/2017)... , Feb. 23, 2017  The particle counters ... by 2021 from USD 275.9 million in 2016, ... the full report: http://www.reportlinker.com/p04718602-summary/view-report.html ... on pharmaceutical R&D, and growth in manufacturing industries ... market growth for particle counters. On the other ...
Breaking Medicine Technology:
(Date:2/24/2017)... ... ... The narrative in “ Signal 8: An Australian Paramedic’s Story ” (published ... experiences. Schanssema describes the tragedies he saw, as well as his struggles with grief ... initially unsure of the career path he wanted to take, found fulfillment in a ...
(Date:2/24/2017)... ... February 24, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at ... concerning this present generation. Yisrayl makes an astounding statement when he says that ... explains that the Bible details the current times so plainly that anyone should be ...
(Date:2/24/2017)... ... February 24, 2017 , ... The Radiology Business Management Association will ... at the annual Building Better Radiology Marketing Programs conference, held this year ... Worth, Texas. Nine awards are given out in five categories. They are:, ...
(Date:2/24/2017)... ... February 24, 2017 , ... Castle Farms, the ... Military Wedding Giveaway, with the winning couple announced on Feb. 14, 2017, on ... donated from local vendors: A Matter of Taste, Ryan Rousseau Enterprises, A Touch ...
(Date:2/23/2017)... CO (PRWEB) , ... February 23, 2017 , ... The ... announce the winner of the 2016 National Education Policy Center Bunkum Award. We invite ... reviewed in 2016. , This year’s Bunkum winner is the Center for American Progress ...
Breaking Medicine News(10 mins):