Immunotherapy developer Sutro Biopharma has floated on the Nasdaq Global Market, providing exits for Merck & Co, Celgene, Amgen and Eli Lilly.

Sutro Biopharma, a US-based cancer drug developer backed by pharmaceutical firms Amgen, Celgene, Eli Lilly and Merck & Co, raised $85m in its initial public offering on Thursday.

The company listed on the Nasdaq Global Market, issuing almost 5.7 million shares priced at $15.00 each. Its shares opened at $15.40 before closing at $15 on Friday.

Founded in 2003 as Fundamental Applied Biology, Sutro Biopharma is working on immuno-oncology therapies, antibody drug conjugates and bispecific antibodies targeting cancer and…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
Email LinkedIn