Sutro Biopharma, a South San Francisco, CA-based developer of new protein therapeutics, secured $26m in Series D financing.
Backers included existing investors Alta Partners, Amgen Ventures, Celgene Corporation, Lilly Ventures, Skyline Ventures and SV Life Sciences.
The company, which has raised over $90m since its founding in 2003, intends to use the funds for the expansion of its proprietary immuno-oncology product pipeline.
Led by William J. Newell, Chief Executive Officer, Sutro uses its cell-free protein synthesis technology to develop antibody drug conjugates and bispecific antibodies. The company has established a Good Manufacturing Practice (cGMP) facility for the production of clinical supplies of materials. It has formed partnerships with biopharma companies utilizing its technology, including a collaboration with Celgene Corporation to design and develop novel antibody drug conjugates and bispecific antibodies as well as to manufacture a proprietary Celgene antibody.