On April 18, 2022 Sutro Biopharma, Inc. (the "Company") reported that entered into amendment No. 1 (the "Amendment") to its licensing agreement (the "Tasly License Agreement") with Tasly Biopharmaceuticals Co., Ltd. ("Tasly") regarding Tasly’s exclusive license to develop and commercialize STRO-002 in Greater China, consisting of China, Hong Kong, Macau and Taiwan (Filing, 8-K, Sutro Biopharma, APR 18, 2022, View Source [SID1234612587]). Pursuant to the Amendment, the initial payment due by Tasly was amended to $25 million, and a $15 million payment will be placed in escrow by Tasly in the second quarter of 2022 and become payable to the Company upon satisfaction of certain regulatory milestones. The Amendment also added an additional regulatory milestone payment to the Tasly License Agreement, providing potential payments totaling up to $350 million related to development, regulatory and commercialization milestones, beyond the payments described above, and made certain other ministerial edits.

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