Ipsen Secures Exclusive Global Rights Of Sutro Biopharma's STRO-003 ADC In Up To $900 Mln Deal

(RTTNews) - French biopharmaceutical company Ipsen SA (IPSEY) and Sutro Biopharma (STRO) announced Monday an exclusive global licensing agreement for STRO-003, an antibody drug conjugate or ADC in the final stages of pre-clinical development.

STRO-003 targets the ROR1 tumor antigen which is known to be overexpressed in many different cancer types including solid tumors and hematological malignancies.

Under the deal, Ipsen will have exclusive worldwide rights to develop and commercialize STRO-003. It will be the first ADC candidate joining Ipsen's expanding portfolio.

Ipsen will assume responsibility for Phase I preparation activities, including submission of the Investigational New Drug or IND application, and all subsequent clinical-development activities and global commercialization activities.

In the transaction, Sutro Biopharma is eligible to receive up to $900 million in potential upfront, development, regulatory and commercial milestone payments. These include around $90 million in near-term payments, including an equity investment, and tiered royalties on global sales, contingent upon successful development and commercialization.

The companies noted that STRO-003 has shown robust monotherapy efficacy and potential for a differentiated safety profile in preclinical development in solid tumors and hematological malignancies.

Mary Jane Hinrichs, SVP and Head of Early Development at Ipsen, said, "STRO-003 is a next-generation ROR1 ADC, leveraging Sutro's site-specific technology to generate a highly stable conjugate, coupled with exatecan payloads, that have shown significant potential in solid tumors. This is our focus as we prepare to enter Phase I, harnessing Ipsen's global expertise in oncology development, while also reinforcing our commitment to bringing new medicines to patients with few treatment options."

For More Such Health News, visit rttnews.com