Sutro Biopharma, an immunotherapy developer commercialising technology created at Stanford University, has floated on the Nasdaq Global Market.
Sutro Biopharma, a US-based cancer drug developer based on research at Stanford University and 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,…
