BRIEF—Sumitomo Dainippon merges subsidiaries

Sumitomo Dainippon Pharma Oncology Inc has been formed today through the merger of Tolero Pharmaceuticals and Boston Biomedical, two clinical-stage companies developing novel cancer therapeutics based in the USA and wholly-owned subsidiaries of Japanese drug major Sumitomo Dainippon Pharma.

This US entity, together with the oncology research and development teams in Japan, DSP Cancer Institute and Oncology Clinical Development Unit, will collectively be known as Sumitomo Dainippon Pharma Oncology or SDP Oncology.

"The launch of this organization represents an exciting new beginning, bringing together distinct proficiencies and strengths from each geography into one collaborative team," said Patricia Andrews, chief executive and global head of oncology.

She continued: "We operate in a unique position within the oncology landscape because we have the nimbleness of a small company combined with the support and resources of a global parent company. Working together, we strengthen our ability to embrace risks and bring forward meaningful cancer therapies that have the potential to truly advance the treatment landscape.”