Sumitomo Dainippon Pharma Co., Ltd. / Tolero Pharmaceuticals, Inc.
2016 · Acquisition/Merger · $780M · Complete
Announcement Sentiment
80
Strongly positive
Sumitomo Dainippon Pharma agreed to acquire Salt Lake City-based Tolero Pharmaceuticals for $200M upfront plus up to $580M (development milestones up to $430M plus commercial milestones up to $150M), totaling up to $780M. Lead asset alvocidib, a CDK9 inhibitor in midphase trials for AML/MDS. Tolero later merged with Boston Biomedical to form Sumitomo Dainippon Pharma Oncology in 2020.