BioCentury
ARTICLE | Company News

Sumitomo acquiring Tolero

December 22, 2016 12:11 AM UTC

Sumitomo Dainippon Pharma Co. Ltd. (Tokyo:4506) will acquire oncology and hematology company Tolero Pharmaceuticals Inc. (Lehi, Utah) for $200 million up front plus milestones. The deal provides Sumitomo with alvocidib (formerly HMR 1275), a cyclin dependent kinase 9 (CDK9) inhibitor that has completed a Phase II trial to treat acute myelogenous leukemia (AML).

Tolero shareholders are eligible for $430 million in development milestones and $150 million in sales milestones...