Sutro Biopharma, a South San Francisco, CA-based biopharmaceutical company that develops and designs novel protein therapeutics and biosuperiors that have site-directed modifications, including modifications incorporating non-natural amino acids, has secured $36.5m in Series C financing.
The round, which consists of two tranches, was led by Skyline Ventures, with participation from new investors Lilly Ventures and Amgen Ventures and existing investors, SV Life Sciences and Alta Partners. The first tranche of $20m closed on Nov. 5.
To date, the company has raised a total of $59.5m in financing.
Sutro Biopharma intends to use the capital to further advance its biotherapeutics and its biochemical protein synthesis platform to meet current Good Manufacturing Practice (cGMP) standards.
In conjunction with the financing, Dr. Chen and Armen Shanafelt, Ph.D., Venture Partner at Lilly Ventures, have joined Sutro’s board of directors.