Sutro Achieves $10 Million Milestone Payment from Celgene
San Francisco, CA, December 19, 2018 –(PRWirePro.com)– Sutro Biopharma, Inc. (NASDAQ:STRO), today announced that the company earned $10 million in a milestone payment from Celgene triggered by the successful development of a dry powder XtractCFTM formulation, using spray drying technology, which is well established in the pharmaceutical industry. Dried XtractCFTM is a significant advancement, facilitating the commercial-scale manufacturing of protein therapeutics, using Sutro’s proprietary cell-free XpressCFTM technology for its fully owned and partnered programs.