Dainippon Sumitomo Pharma Co. said today it has agreed to acquire Boston Biomedical Inc., known for cancer treatment research, for $200 million in April.
The Japanese drug firm will later pay up to $540 million in development milestone payments for two anticancer drugs under development by BBI and up to $1,890 million in sales milestone payments, it said.
Dainippon Sumitomo claimed the two BBI products are likely to become the world’s first anticancer drugs targeting cancer stem cells. It aims to commercialize them in 2015 or later.
