Sutro Biopharma sells 4% royalty on Vaxcyte products to Blackstone for $140M upfront

SUTRO BIOPHARMA, INC.

Sold 4% royalty interest in Vaxcyte's future net sales (including VAX-24) to Blackstone Life Sciences.
Received $140M upfront payment on June 23, 2023 from Blackstone.
Eligible for up to $250M additional payments upon achieving return thresholds.
Retains rights to discover and develop vaccines for non-infectious diseases, including cancer.
Agreed to covenants on amending, assigning, and terminating the License Agreement with Vaxcyte.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SUTRO BIOPHARMA, INC. entered into Purchase Agreement with affiliate of Blackstone Life Sciences valued at $140.0 million (effective 2023-06-21).

Action: entry
Agreement: asset purchase
Counterparty: affiliate of Blackstone Life Sciences
Value: $140.0 million
Effective: 2023-06-21

Exact text from the filing

On June 21, 2023, Sutro Biopharma, Inc. (the “ Company ”) entered into a purchase and sale agreement (the “ Purchase Agreement ”) with an affiliate of Blackstone Life Sciences (“ Blackstone ”, and together with the Company, the “ Parties ”), pursuant to which the Company sold to Blackstone its 4% royalty, or revenue interest, in the potential future net sales of Vaxcyte Inc.’s (“ Vaxcyte ”) products, including VAX-24 (the “ Purchased Interest ”) under that certain Amended and Restated SutroVax Agreement, dated October 12, 2015, by and between the Company and Vaxcyte, as amended (the “ License Agreement ”).

View on SEC.gov

280 material agreements filed in the last 30 days. Browse all material agreements →

SUTRO BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-029731

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.