Sutro and Celgene amend deal and remove takeover option
Privately-held antibody drug developer Sutro Biopharma and biotech major Celgene (Nasdaq: CELG) have changed the terms of a long-running immuno-oncology collaboration.
The agreement dates back to 2012 and was expanded in 2014, with the option for Celgene to acquire Sutro being added. But that option has now been removed as part of what the US companies are calling a ‘refocusing’ of the collaboration.
Now the focus will be on four programs that are advancing through preclinical development, including an antibody drug conjugate (ADC) program targeting B-Cell maturation antigen (BCMA).
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