Sumitomo Dainippon Pharma (SDP) has merged two of its US-based wholly owned subsidiaries, Tolero Pharmaceuticals and Boston Biomedical, to form Sumitomo Dainippon Pharma Oncology, the company said in a statement Wednesday.
Hiroshi Nomura, CEO of SDP, said merging the two units would help the company make oncology its core business.
“Over the last decade, these formerly separate organizations have expanded our oncology pipeline to include multiple advanced assets and early discovery programs,” Nomura said in a statement.
SDP has tapped Patricia Andrews, currently CEO of Boston Biomedical, as the CEO and global head of oncology.
SDP Oncology will also house the Japanese firm’s oncology research teams in Japan, DSP Cancer Institute and Oncology Clinical Development Unit, the statement said.
The new entity’s discovery, research and development programs will include oncogenic pathways, survival mechanisms and novel protein interactions.
It added that its portfolio has both preclinical and advanced-stage assets for multiple solid tumours and hematologic malignancies, including metastatic colorectal cancer, glioblastoma, myelofibrosis and myelodysplastic syndrome.
Last year, SDP paid $3 billion for a 10 per cent stake in Switzerland-based Roivant Sciences, taking over units developing treatments for prostate cancer and other diseases.