– Sutro will

– Sutro 会

rapidly advance next-generation exatecan and dual-payload ADC programs; luveltamab tazevibulin development to be deprioritized as Sutro continues to seek a partner

快速推进下一代 exatecan 和双有效载荷 ADC 项目；随着 Sutro 继续寻求合作伙伴，luveltamab tazevibulin 的开发将被降级。

–

–

– Three INDs for wholly-owned programs expected in the next 3 years,

- 预计未来三年内将有三个IND用于全资项目，

beginning with novel Tissue Factor ADC, STRO-004, planned for 2H 2025

从新型组织因子ADC药物STRO-004开始，计划于2025年下半年进行。

–

–

– Jane Chung, President and COO, to succeed Bill Newell as CEO and Board Director –

– 钟珍妮，总裁兼首席运营官，将接替比尔·纽厄尔担任首席执行官和董事会董事 –

– Cash, cash equivalents and marketable securities as of December 31, 2024 of $316.9 million, with cash runway expected into at least Q4 2026, excluding anticipated milestones from existing collaborations –

截至2024年12月31日，现金、现金等价物和可出售证券为3.169亿美元，预计现金跑道至少延续至2026年第四季度，不包括现有合作预期的里程碑款项。

– Conference call today at

– 今天电话会议

2:00 p.m. PT/ 5:00 p.m. ET

下午2点（太平洋时间）/ 下午5点（东部时间）

–

–

SOUTH SAN FRANCISCO, Calif., March 13, 2025 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), an oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced the completion of a strategic portfolio review resulting in the prioritization of its three wholly-owned preclinical programs in its next-generation ADC pipeline, beginning with its potentially best-in-class exatecan ADC targeting Tissue Factor, STRO-004, expected to enter the clinic in the second half of 2025..

南旧金山，加利福尼亚州，2025年3月13日（环球新闻社）——Sutro Biopharma, Inc.（Sutro或公司）（纳斯达克股票代码：STRO），一家致力于位点特异性和新型抗体药物偶联物（ADC）的肿瘤学公司，今天宣布完成了一项战略组合评估，优先推进其在下一代ADC管线中的三个全资临床前项目，首先是其潜在同类最优的靶向组织因子的exatecan ADC——STRO-004，预计将于2025年下半年进入临床阶段。

Additionally, the Company announced that it is deprioritizing additional investment into development of luvelta across all indications and is reducing headcount by nearly 50 percent. The Company will continue to explore global out-licensing opportunities for luvelta, as Sutro still believes in its potential to provide significant benefit to patients with unmet need.

此外，公司宣布将降低对 luvelta 在所有适应症上的进一步投资优先级，并将员工人数减少近 50%。公司将继续探索 luvelta 的全球对外授权机会，因为 Sutro 仍然相信它有潜力为存在未满足需求的患者带来显著益处。

Further, given Sutro’s significant progress in fully externalizing its cell-free manufacturing to scale, the Company intends to exit its internal GMP manufacturing facility by year-end. As a result of this strategic review and reprioritization, the Company’s cash runway is expected into at least the fourth quarter of 2026, excluding anticipated milestones from existing collaborations..

此外，鉴于Sutro在全面外部化其无细胞制造以实现规模化方面取得了显著进展，公司计划在今年年底前退出其内部的GMP制造设施。由于此次战略审查和重新优先排序，公司的现金储备预计至少能维持到2026年第四季度，不包括现有合作预期的里程碑款项。

The Company also announced that Bill Newell and Sutro’s Board of Directors have mutually agreed that it is the right time to transition leadership. Jane Chung, President and Chief Operating Officer, will assume the responsibilities of Chief Executive Officer and Board member from Mr. Newell, effective today.

公司还宣布，比尔·纽厄尔和Sutro董事会已达成共识，认为现在是进行领导层交接的合适时机。简·钟（Jane Chung），总裁兼首席运营官，将从今天起接替纽厄尔先生担任首席执行官及董事会成员的职责。

Mr. Newell will continue to be available at the Company’s request in an advisory capacity through the transition..

纽厄尔先生将在过渡期间继续应公司要求以顾问身份提供服务。

“It has been a privilege to be the CEO of Sutro, and I am proud of what the team has accomplished. As the Company begins this exciting new phase, I want to express my utmost confidence in Jane to advance the Company’s leadership in next-generation ADCs,” said Bill Newell. “The decision to reallocate resources from the development of luvelta was difficult, as we remain steadfast in our belief in its significant potential to benefit patients with cancer.

“担任Sutro的首席执行官是我的荣幸，我为团队取得的成就感到自豪。随着公司进入这一令人兴奋的新阶段，我对Jane推动公司在下一代ADC领域的领导地位充满信心，”Bill Newell表示。“从luvelta的开发中重新分配资源的决定是艰难的，因为我们始终坚信它在造福癌症患者方面具有巨大的潜力。

Most importantly, we would like to thank the patients, their families, clinicians, partners and employees who made our luvelta program possible.”.

最重要的是，我们要感谢那些使我们的luvelta计划成为可能的患者、他们的家人、临床医生、合作伙伴和员工。”

“Our strategic portfolio review determined that the best path forward is to prioritize our next-generation exatecan and dual-payload ADC programs,” said Jane Chung, Sutro’s Chief Executive Officer. “This shift in focus will result in considerable reduction of operating costs and allow us to chart a new future for Sutro.

“我们的战略投资组合审查确定，前进的最佳路径是优先考虑我们的下一代exatecan和双载荷ADC项目，”Sutro首席执行官Jane Chung表示。“这一重点的转移将大幅降低运营成本，并让我们为Sutro规划一个新的未来。”

We believe the programs we selected are high-value, potentially best-in-class candidates that harness our unique ability to address the most complex biology. Over the next three years, we plan to file three INDs for our wholly-owned programs. In addition, Sutro remains committed to our existing strategic collaborations which have the potential to generate up to $2 billion in milestone payments, in addition to royalties.”.

我们相信，我们选择的项目是高价值、潜在同类最佳的候选者，它们利用了我们解决最复杂生物学问题的独特能力。在接下来的三年里，我们计划为我们的全资项目提交三个IND申请。此外，Sutro将继续致力于我们现有的战略合作伙伴关系，这些合作有可能带来高达20亿美元的里程碑付款，以及特许权使用费。

Commented Connie Matsui, Sutro’s Board Chair: “We are grateful for Bill’s many years of service and dedication to Sutro, in particular for leading the development of our trailblazing cell-free platform, and for his support of the Company’s new direction. We are also appreciative of the many significant contributions made by the employees who are departing.”.

Sutro 董事会主席康妮·松井 (Connie Matsui) 表示：“我们感谢比尔多年来对 Sutro 的服务和奉献，特别是他领导开发了我们开创性的无细胞平台，并支持公司的新方向。我们也很感激即将离职的员工所做出的许多重要贡献。”

Pipeline Priorities and Organizational Changes

管道优先级与组织变革

Wholly-Owned Sutro Programs

完全拥有的Sutro计划

:

：

Existing Collaborations for Next-Generation ADCs

现有下一代ADC的合作

:

：

These collaborations remain a strategic priority given their long-term value creation potential and the increasing relevance of specialized ADCs in the treatment of cancer.

鉴于这些合作在创造长期价值方面的潜力，以及专门的ADC在癌症治疗中日益增强的相关性，它们仍然是战略重点。

Organization

组织

:

：

Financial

金融

:

：

The Company will host a conference call and webcast today at 2:00 p.m. PT/ 5:00 p.m. ET. The webcast information will also be available through the News & Events section of the Investors portion of the Company’s website at

公司今天将在太平洋时间下午2:00/东部时间下午5:00举办电话会议和网络直播。网络直播信息也将通过公司网站投资者部分的新闻与活动栏目获取。

www.sutrobio.com

www.sutrobio.com

. An archived replay will be available for at least 30 days after the event.

活动结束后，存档的重播将至少提供30天。

About

关于

Sutro

苏特罗

Biopharma

生物制药

Sutro Biopharma, Inc., is relentlessly focused on the discovery and development of precisely designed cancer therapeutics to transform what science can do for patients. Sutro’s fit-for-purpose technology, including cell-free XpressCF

Sutro Biopharma, Inc. 始终专注于发现和开发精确设计的癌症治疗药物，以改变科学为患者所能做的事情。Sutro 的适用技术，包括无细胞 XpressCF 技术平台，均使其能够设计出具有精准结构的下一代蛋白质疗法。

®

®

, provides the opportunity for broader patient benefit and an improved patient experience. Sutro is advancing a robust early-stage pipeline of novel exatecan and dual-payload antibody drug conjugates (ADCs), coupled with high-value collaborations and industry partnerships, which validate its continuous product innovation.

，为更广泛的患者受益和改善患者体验提供了机会。Sutro正在推进一系列强健的早期阶段新型exatecan和双载荷抗体药物偶联物（ADCs）的研发管线，同时结合高价值的合作与行业伙伴关系，这些都验证了其持续的产品创新能力。

Sutro is headquartered in South San Francisco. For more information, follow Sutro on social media @Sutrobio, or visit .

Sutro 总部位于南旧金山。如需更多信息，请在社交媒体上关注 Sutro @Sutrobio，或访问 。

www.sutrobio.com

www.sutrobio.com

.

。

Forward-Looking Statements

前瞻性声明

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated preclinical and clinical development activities, including enrollment and site activation; timing of announcements of clinical results, trial initiation, and regulatory filings; outcome of discussions with regulatory authorities; potential benefits of the Company’s product candidates and platform; potential business development and partnering transactions; potential market opportunities for the Company’s product candidates; the timing of exiting the manufacturing facility in San Carlos; the timing and receipt of anticipated future milestone payments; the Company’s expected cash runway; and the expected costs and cost reductions associated with the restructuring.

本新闻稿包含1995年《私人证券诉讼改革法案》“安全港”条款所指的前瞻性声明，包括但不限于预期的临床前和临床开发活动，包括入组和站点启动；临床结果、试验启动和监管文件提交的时间；与监管机构讨论的结果；公司候选产品和平台的潜在益处；潜在的业务发展和合作交易；公司候选产品的潜在市场机会；退出圣卡洛斯制造工厂的时间；预期未来里程碑付款的时间和收取；公司的预期现金跑道；以及与重组相关的预期成本和成本削减。

All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain.

所有非历史事实的陈述均可被视为前瞻性陈述。尽管公司认为这些前瞻性陈述中反映的预期是合理的，但公司无法保证未来事件、结果、行动、活动水平、表现或成就，且生物技术开发和潜在监管批准的时间与结果本身具有不确定性。

Forward-looking statements are subject to risks and uncertainties that may cause the Company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the Company’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates,, the market size for the Company’s product .

前瞻性声明受到风险和不确定性的约束，可能导致公司的实际活动或结果与任何前瞻性声明中表达的内容显著不同，包括与公司推进其产品候选者能力相关的风险和不确定性、潜在监管认定、批准和产品候选者商业化的时机和收据、公司产品市场规模等。

Investor Contact

投资者联系

Emily White

艾米丽·怀特

Sutro Biopharma

德罗生物制药

(650) 823-7681

(650) 823-7681

ewhite@sutrobio.com

ewhite@sutrobio.com

Media Contact

媒体联系人

Amy Bonanno

艾米·博纳诺

Lyra Strategic Advisory

天琴座战略咨询

abonanno@lyraadvisory.com

abonanno@lyraadvisory.com

Released March 13, 2025

发布于2025年3月13日