Sutro Biopharma, Inc 8-K, filed Apr 20, 2022
Sutro Biopharma, Inc. (STRO)
About this 8-K
Sutro Biopharma, Inc filed this 8-K on April 20, 2022, reporting on events of April 18, 2022.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On April 18, 2022 Sutro Biopharma, Inc. (the “Company”) entered into amendment No. 1 (the “Amendment”) to its licensing agreement (the “Tasly License Agreement”) with Tasly Biopharmaceuticals Co., Ltd. (“Tasly”) regarding Tasly’s exclusive license to develop and commercialize STRO-002 in Greater China, consisting of China, Hong Kong, Macau and Taiwan. Pursuant to the Amendment, the initial payment due by Tasly was amended to $25 million, and a $15 million payment will be placed in escrow by Tasly in the second quarter of 2022 and become payable to the Company upon satisfaction of certain regulatory milestones. The Amendment also added an additional regulatory milestone payment to the Tasly License Agreement, providing potential payments totaling up to $350 million related to development, regulatory and commercialization milestones, beyond the payments described above, and made certain other ministerial edits.
The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Sutro Biopharma, Inc. |
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Date: |
April 20, 2022 |
By: |
/s/ Edward Albini |
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Edward Albini |