Sutro and BioNova ink deal for STRO-001 in Greater China
Shares of US drug develop Sutro Biopharma (Nasdaq: STRO) gained around 3% to $19.21 in early trading today, as the company announced an option agreement for Chinese firm BioNova Pharmaceuticals to develop and commercialize STRO-001, a CD74-targeting antibody-drug conjugate (ADC), for patients with hematologic cancers, in Greater China, including mainland China, Hong Kong, Macau and Taiwan.
Under the terms of the agreement, BioNova has the option to obtain exclusive rights to develop and commercialize STRO-001 in Greater China. BioNova will pursue the clinical development, regulatory approval, and commercialization of STRO-001 in multiple indications, including non-Hodgkin’s lymphoma, multiple myeloma, and leukemia in the licensed territory. Sutro will retain development and commercial rights of STRO-001 globally outside of Greater China, including the USA.
Financial terms of deal
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