Sutro Biopharma Inc (STRO) has provided an announcement.
Sutro Biopharma, Inc. has secured a lucrative Exclusive License Agreement with Ipsen Pharma SAS to grant exclusive rights for the research, development, manufacture, and commercialization of STRO-003, a promising biopharmaceutical product. Ipsen has committed to an initial payment of $50 million and an investment of $25 million in Sutro Biopharma’s shares at a premium. Additional financial milestones include up to $447 million for development and regulatory achievements, $360 million for sales targets, and a tiered royalty scheme on net sales, bolstering the potential for significant long-term gains from STRO-003.
Learn more about STRO stock on TipRanks’ Stock Analysis page.
