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Dainippon Sumitomo Gets Dibs on Cancer Candidate in Japan

By Catherine Shaffer

Friday, April 8, 2011
Dainippon Sumitomo Pharma Co. Ltd. (DSP) bested a field of a dozen interested companies to license a small-molecule oncology drug, BBI608, from Boston Biomedical Inc. DSP will pay $15 million up front, with the potential for up to $155 million more in development costs and milestones. The agreement covers all oncology indications in Japan, and exclusive right of negotiation for the drug in the U.S. and Canada.

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