Sutro Biopharma Appoints Dr. Barbara Leyman as Chief Business Development Officer
2024年7月9日 - 9:00PM
Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a
clinical-stage oncology company pioneering site-specific and
novel-format antibody drug conjugates (ADCs), today announced the
appointment of Barbara Leyman, Ph.D., as Chief Business
Development Officer, effective July 8, 2024. Dr. Leyman brings 20
years of life science industry business development, investing, and
corporate strategy experience to Sutro.
“We are thrilled to welcome Dr. Leyman at a pivotal time for
Sutro, as we advance luvelta in two registration-directed trials in
both ovarian cancer and a rare pediatric cancer and continue to
leverage our proprietary cell-free technology to pioneer the next
generation of ADCs,” said Bill Newell, Sutro’s Chief Executive
Officer. “Dr. Leyman brings a strong track record of successful
dealmaking, along with a depth of experience in the sector from her
time as a life science investor and as a value creator within our
industry.”
“I am excited to join Sutro and have been impressed by the
accomplishments of the Company across its pipeline of clinical,
preclinical, and partnership programs,” said Dr. Leyman. “This is a
testament to the strength of Sutro’s capabilities, which I believe
offers a completely unique approach to developing ADCs and other
therapies that can meaningfully improve patient care. I look
forward to working with the Sutro team to continue to build value
with luvelta and expand the potential of medicines created by its
innovative technology.”
Dr. Leyman most recently served as Senior Vice President of
Corporate Development at GenEdit, a developer of genetic medicines.
Prior to this role, she was a business development leader at Lyell
Immunopharma and Calico Life Sciences. Before joining industry, Dr.
Leyman was Head of Life Sciences Investment Fund at LRM, a venture
capital firm, and worked as Licensing and New Ventures Manager at
the Flanders Institute for Biotechnology (VIB). She has served on
the board of directors at biopharmaceutical companies Apitope,
Complix., and Amakem. Dr. Leyman received a Ph.D. degree in
Molecular Biology from Imperial College, Wye Campus, University of
London and a Master’s degree in Chemistry and Biotechnology from
Ghent University.
Inducement Grants Under Nasdaq Listing Rule
5635(c)(4) In connection with Dr. Leyman’s appointment as
Chief Business Development Officer, the Compensation Committee of
Sutro’s Board of Directors granted to Dr. Leyman options to
purchase 125,000 shares of Sutro common stock and 100,000
restricted stock units (RSUs) of Sutro common stock, effective as
of July 8, 2024. These grants were made as an inducement material
to the Dr. Leyman’s acceptance of employment with Sutro and were
approved by the Compensation Committee of Sutro’s Board of
Directors in accordance with Nasdaq Listing Rule 5635(c)(4).
The RSUs and stock options are subject to the terms and
conditions of Sutro’s 2021 Equity Inducement Plan. One-fourth of
the total number of shares subject to the RSUs will vest on the
one-year anniversary of the Dr. Leyman’s hire date and annually
thereafter until fully vested on the fourth anniversary, subject to
Dr. Leyman’s continued service with Sutro on each such vesting
date. One-fourth of the total number of shares underlying the stock
options will vest on the one-year anniversary of Dr. Leyman’s hire
date and 1/48th of the total number of shares underlying the
stock options will vest each month thereafter until fully vested on
the fourth anniversary of Dr. Leyman’s hire date, subject to Dr.
Leyman’s continued service with Sutro on each such vesting date.
The stock options have a term of ten years and an exercise price
equal to the closing price of Sutro’s common stock on the grant
effective date as reported by The Nasdaq Stock Market.
About Sutro BiopharmaSutro Biopharma, Inc., is
a clinical-stage company 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®, provides the opportunity
for broader patient benefit and an improved patient experience.
Sutro has multiple clinical stage candidates, including luveltamab
tazevibulin, or luvelta, a registrational-stage folate receptor
alpha (FolRα)-targeting ADC in clinical studies. A robust pipeline,
coupled with high-value collaborations and industry partnerships,
validates Sutro’s continuous product innovation. Sutro is
headquartered in South San Francisco. For more information, follow
Sutro on social media @Sutrobio, or visit
www.sutrobio.com. Forward-Looking
StatementsThis 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 regulatory decisions; potential
benefits of luvelta and the Company’s other product candidates and
platform; timing of payments under our collaboration agreements;
potential expansion into other indications and combinations,
including the timing and development activities related to such
expansion; potential market opportunities for luvelta and the
Company’s other product candidates; and the Company’s expected cash
runway. 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. 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 and the
Company’s ability to successfully leverage Fast Track designation,
the market size for the Company’s product candidates to be smaller
than anticipated, clinical trial sites, supply chain and
manufacturing facilities, the Company’s ability to maintain and
recognize the benefits of certain designations received by product
candidates, the timing and results of preclinical and clinical
trials, the Company’s ability to fund development activities and
achieve development goals, the Company’s ability to protect
intellectual property, the value of the Company’s holdings of
Vaxcyte common stock, and the Company’s commercial collaborations
with third parties and other risks and uncertainties described
under the heading “Risk Factors” in documents the Company files
from time to time with the Securities and Exchange Commission.
These forward-looking statements speak only as of the date of this
press release, and the Company undertakes no obligation to revise
or update any forward-looking statements to reflect events or
circumstances after the date hereof.
ContactEmily WhiteSutro Biopharma(650)
823-7681ewhite@sutrobio.com
Sutro Biopharma (NASDAQ:STRO)
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