VC-backed Sutro Biopharma debuts IPO
South San Francisco-based Sutro Biopharma Inc, a drug developer focused on creating protein therapeutics for cancer and autoimmune disorders, has raised about $85 million after pricing its over 5.6 million shares at $15 per share. The stock began trading September 27, 2018 on the NASDAQ under the ticker symbol "SRO." Cowen and Piper Jaffray are the lead underwriters. Also, Sutro has raised about $10 million in a private placement from Merck. Sutro's pre-IPO investors included Samsara BioCapital, Surveyor Capital, Alta Partners, Amgen Ventures, Celgene Corporation, Lilly Ventures, Skyline Ventures and SV Health Investors.
27 September 2018•2 mins read
