- Sutro Biopharma Inc STRO has received a milestone payment under its collaboration and license agreement with the healthcare division of Merck KGaA Germany MKGAF.
- The payment is related to a patient enrollment achievement in the Phase 1 dose-escalation and expansion study of M1231 in adult patients with metastatic solid tumors.
- M1231 is an investigational bispecific antibody-drug conjugate (ADC) targeting MUC1-EGFR.
- As part of the agreement, Sutro is manufacturing the antibody and linker-warhead for the early clinical supply and is eligible for further payments and tiered royalties.
- Merck will be responsible for the drug product, clinical development, and commercialization of the product candidate.
- Price Action: STRO shares are up 0.03% at $18.67 during the market session on the last check Tuesday.
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