Sumitomo Dainippon beefs up oncology pipeline with $780M Tolero buyout
Japan’s Sumitomo Dainippon Pharma has stepped up with a $200 million down payment on its purchase of Salt Lake City-based Tolero Pharmaceuticals. There’s another $430 million set aside for development milestones plus up to $150 million in commercial payouts, bringing the total deal to $780 million.
Tolero has been at work building a case for its lead drug, the late-stage CDK9 inhibitor alvocidib, as a combination therapy suited to acute myeloid leukemia. By interfering with a mechanism involved in cell division and metastasis, Tolero believes their drug has potential to improve outcomes for a variety of cancers.
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.