Ipsen has joined the global dealmaking spree for antibody-drug conjugates as the French biopharma picks up its first asset in oncology’s hottest pocket of R&D.
The drugmaker said Tuesday it will pay up to $900 million, including about $90 million in the near term, to snag the exclusive rights to Sutro Biopharma’s ROR1-targeting ADC for solid tumors.
Sutro priced a $75 million stock offering shortly after the Bay Area biotech announced the Ipsen deal.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.