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.

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Senior Associate

Alexandria Real Estate Equities

Durham, NC, USA