On September 30, 2021 Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, reported that Merck, known as MSD outside the United States and Canada, has extended the research term for the first cytokine derivative program under the 2018 Merck Agreement, for an additional two years (Press release, Sutro Biopharma, SEP 30, 2021, View Source [SID1234590607]). The research extension is intended to facilitate completion of preclinical research and development activities for a second candidate, which has a novel design and approach. As part of this extension, Sutro is eligible to receive up to $10 million.
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"We are encouraged by the strength of the continued research efforts in collaboration with Merck on the cytokine derivative programs," said Trevor Hallam, President of Research and Chief Scientific Officer of Sutro. "This research extension has the potential to produce an additional candidate using a different approach towards the same target. We believe that this productive research program underscores the potential of Sutro’s platform to engineer therapeutics with novel design and approach."
About the Merck Collaboration
Under the terms of the 2018 Merck collaboration agreement, Sutro and Merck are conducting preclinical research and development of cytokine derivatives utilizing Sutro’s proprietary cell-free protein synthesis and site-specific conjugation platforms, XpressCF and Xpress CF+. Merck has exclusive worldwide rights to therapeutic candidates derived from the collaboration. In March 2020, Merck exercised its option to extend the research term of the first collaboration program by one year, which generated a payment of $5 million to Sutro. In April 2021, Merck initiated IND-enabling toxicology studies for the first candidate under the first collaboration program for which Sutro earned a $15 million milestone payment. Additionally, research on a second cytokine derivative program on a separate target is ongoing.