Sumitomo merges U.S. biotechs to create oncology division

Sumitomo Dainippon Pharma has merged Tolero Pharmaceuticals and Boston Biomedical to form an oncology division with sites in Massachusetts and Utah. The U.S. unit, Sumitomo Dainippon Pharma Oncology Inc., will work with Sumitomo sites in Japan to advance a pipeline of cancer prospects.