On December 19, 2018 Sutro Biopharma, Inc. (NASDAQ: STRO), reported that the company earned $10 million in a milestone payment from Celgene triggered by the successful development of a dry powder XtractCFTM formulation, using spray drying technology, which is well established in the pharmaceutical industry (Press release, Sutro Biopharma, DEC 19, 2018, View Source [SID1234532149]). Dried XtractCFTM is a significant advancement, facilitating the commercial-scale manufacturing of protein therapeutics, using Sutro’s proprietary cell-free XpressCFTM technology for its fully owned and partnered programs.
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"We highly value the collaborative nature of our partnership with Celgene and continue to deliver on important milestones," said Sutro CEO Bill Newell. "This advancement is yet another validation of our expertise in the field and adds to our successes in developing novel antibody-drug conjugates for the treatment of cancer patients."
This collaboration was originally signed in September 2014 and amended in August 2017. According to the terms of the agreement, Celgene acquired worldwide rights to one collaboration program to reach IND status and maintains an option to obtain worldwide rights to a second collaboration program. Sutro will retain U.S. development and commercialization rights and Celgene will retain ex-U.S. rights for the remaining collaboration programs. Sutro is entitled to development and regulatory milestone payments and royalties from Celgene.
About Spray Drying Technology
Sutro’s spray drying technology is used to produce dry powders from liquids and intends to use this technology to support the company’s industrial-scale manufacturing of XtractCFTM, a proprietary cell-free extract used to produce novel protein therapeutics. Developing XtractCFTM in the form of a dry powder significantly improves manufacturing efficiency, enabling global supply chains to produce commercial-scale protein therapeutics using Sutro’s proprietary XpressCFTM technology.