Sutro Biopharma Announces Departure of Chief Medical Officer

Rhea-AI Summary

Sutro Biopharma (NASDAQ: STRO) announced that Chief Medical Officer, Arturo Molina, will leave the company effective November 4, 2022, to pursue other opportunities. CEO Bill Newell will oversee clinical activities in the interim while the search for a new CMO continues. Sutro's pipeline includes six clinical-stage product candidates, with a focus on STRO-002, aimed at advanced ovarian cancer, highlighting an active development strategy despite the leadership change.

Positive

• Sutro has six clinical-stage product candidates.
• STRO-002 is progressing towards a registrational trial for advanced ovarian cancer.

Negative

• Departure of CMO may lead to temporary instability in leadership.
• Uncertainty about the timeline for recruiting a new CMO.

SOUTH SAN FRANCISCO, Calif., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that Chief Medical Officer, Arturo Molina, M.D., M.S., F.A.C.P. will be leaving the company to pursue other opportunities, effective November 4, 2022. Sutro will continue its executive search for a new CMO. In the interim, Bill Newell CEO, with support from Sutro’s senior clinical development team, will oversee all clinical activities and related functions.

“We thank Arturo for his many contributions to the Company and wish him well as he pursues his future endeavors,” said Bill Newell, Sutro’s Chief Executive Officer. “We are at an exciting time in our company’s growth, with our platform yielding six next-generation, clinical-stage product candidates. I am confident in our team’s ability to execute on our clinical objectives for STRO-002, including the plans for a registrational directed trial in advanced ovarian cancer. Our experienced clinical and regulatory teams, together with our external clinical advisors—which I will directly oversee—remain fully engaged on our development of STRO-002.”

About Sutro Biopharma

Sutro Biopharma, Inc., headquartered in South San Francisco, is a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs). Sutro has two wholly owned ADCs in the clinic—STRO-002, a folate receptor alpha (FolRα)-targeting ADC, in clinical studies for ovarian and endometrial cancers; and STRO-001, a CD74-targeting ADC, in clinical studies for B-cell malignancies. Additionally, Sutro is collaborating with Bristol Myers Squibb (BMS) on CC-99712, a BCMA-targeting ADC in the clinic for patients with multiple myeloma; with Merck KGaA, Darmstadt, Germany, known as EMD Serono in the U.S. and Canada (EMD Serono), on M1231, a MUC1-EGFR bispecific ADC in clinical studies for patients with solid tumors, particularly non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma; with Merck, known as MSD outside of the United States and Canada, on MK-1484, a selective IL-2 agonist in clinical studies as a monotherapy and in combination with pembrolizumab for the treatment of solid tumors; and with Astellas Pharma (Astellas) on novel modality, immunostimulatory antibody-drug conjugates (iADCs). Sutro’s platform technology also enabled the spin out of Vaxcyte and the creation of VAX-24, a 24-valent pneumococcal conjugate vaccine in clinical studies for the prevention of invasive pneumococcal disease. Sutro’s rational design and precise protein engineering has enabled six product candidates in the clinic. Follow Sutro on Twitter, @Sutrobio, and at www.sutrobio.com to learn more about our passion for changing the future of oncology.

Investor Contact
Annie J. Chang
Sutro Biopharma
(650) 801-5728
ajchang@sutrobio.com

Media Contact
Amy Bonanno
Solebury Strategic Communications
(914) 450-0349
abonanno@soleburystrat.com

 

FAQ

What is the recent leadership change at Sutro Biopharma (STRO)?

Chief Medical Officer Arturo Molina is leaving Sutro Biopharma effective November 4, 2022.

Who is overseeing clinical activities at Sutro Biopharma after the CMO's departure?

CEO Bill Newell will oversee clinical activities in the interim.

What is the focus of Sutro Biopharma's clinical development?

Sutro is focused on developing its product candidates, particularly STRO-002 for advanced ovarian cancer.

How many product candidates does Sutro Biopharma have in clinical stages?

Sutro Biopharma has six product candidates in clinical stages.

What is STRO-002 targeting?

STRO-002 is a folate receptor alpha-targeting antibody drug conjugate.