Sutro Biopharma, an immunotherapy developer commercialising technology created at Stanford University, has floated on the Nasdaq Global Market.

Sutro Biopharma, a US-based cancer drug developer based on research at Stanford University and backed by pharmaceutical firms Amgen, Celgene, Eli Lilly and Merck & Co, raised $85m in its initial public offering on Thursday. The company listed on the Nasdaq Global Market, issuing almost 5.7 million shares priced at $15.00 each. Its shares opened…

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