Sutro Biopharma, the South San Francisco-based developer of biotech drugs, said today it has formed a multi-year partnership with Pfizer to develop peptide-based treatments. Financial terms of the deal weren’t disclosed, although it involves an upfront cash payment, ongoing research support, milestone payments for success in development, and royalties on future product sales. We wrote about Sutro’s technology back in November when it raised a $36.5 million venture round of financing. CEO Bill Newell said at that time that Sutro had “several” partnerships in place that it couldn’t announce, and that he was in position to close two more deals in the next six to 12 months.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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