Sutro strikes a $40M China deal as it looks to push ahead of a crowded pack
In the nearly 20 years since it spun out of Stanford, Sutro Biopharma’s greatest financial success has been the other company that uses its underlying technology.
In 2013, three biotech executives licensed Sutro’s protein-synthesis platform to design conjugate vacccines like the kinds used in pneumococcal shots. Now known as VaxCyte, it’s valued at $1.2 billion on Nasdaq — or, roughly speaking, twice what Sutro’s worth on the same exchange.
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