Fenwick & West LLP represented Sutro Biopharma, Inc., the developers of a new generation of antibody drug conjugate therapeutics and bifunctional antibody-based therapeutics for targeted cancer therapies, in a collaboration with Celgene Corporation to create and develop novel antibody drug conjugates (ADCs) and bispecific antibodies for two undisclosed targets and to manufacture a proprietary Celgene antibody. Sutro will be responsible for product design and production of preclinical materials using the company’s proprietary, cell-free protein synthesis technology. Sutro will receive a substantial upfront payment, an equity investment in the company and payments for the completion of research, development and regulatory milestones, bringing the potential deal value to over $500 million for Sutro.

The Fenwick transaction team was led by corporate partner Effie Toshav and included corporate partner Matthew Rossiter and technology transactions associate Stefano Quintini.

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