Sutro Biopharma, Inc (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company, is honoured as the Best New Drug Developer at the World ADC Digital Awards, held during the World ADC Digital Event, it was reported on Monday.

The award highlights companies, teams and individuals in the industry, across nine categories. Finalists and winners are selected from more than 1,000 votes cast and each submission was assessed by a panel of seven judges.

Bill Newell, Sutro's chief executive officer, said, 'We are honoured to receive the World ADC Best New Drug Developer Award. The award recognises our three innovative clinical development candidate ADCs. STRO-001 and STRO-002 are currently in Phase 1 clinical studies and CC-99712 is under investigation in a Phase 1b/2 clinical trial by our partner Bristol Myers Squibb. We are encouraged by our emerging and promising clinical data and the patient benefit that these product candidates may offer.'

In addition to developing its own oncology pipeline, Sutro is collaborating with select pharmaceutical and biotech companies to discover and develop novel, next-generation therapeutics.