Sumitomo Pharma Oncology, a wholly owned subsidiary of Sumitomo Pharma Co. Ltd, announced that it will combine with affiliate companies Sumitomo Pharma America Holdings, Inc., Sumitovant Biopharma Ltd., Myovant Sciences, Inc., Urovant Sciences, Inc., Enzyvant Therapeutics, Inc., and Sunovion Pharmaceuticals Inc. to form Sumitomo Pharma America, Inc. effective July 1, 2023. Spirovant Sciences, Inc., Sumitovant's remaining wholly owned subsidiary, will operate as a standalone company under Sumitomo Pharma America. Sumitovant's current CEO Myrtle Potter will serve as President and CEO of Sumitomo Pharma America upon completion of the combination.
Sumitomo Pharma America will establish a science-based, technology-driven biopharmaceutical company focused on addressing unmet patient needs in the critical areas of central nervous system, oncology, urology, women's health, and cell and gene therapies. Sumitomo Pharma America will house a diverse portfolio of commercialized products and robust pipeline of early- to late-stage assets leveraging proprietary technology platforms and advanced computational analytics capabilities to accelerate research, development, and potential commercialization of new therapies. Each subsidiary will continue to operate independently until the combination is complete but are collaborating on key integration efforts in the interim to allow for a smooth transition for all stakeholders in preparation for Day 1 of Sumitomo Pharma America.
Hiroshi Nomura, President and CEO of Sumitomo Pharma, said, "We remain deeply committed to addressing pressing health challenges and believe Sumitomo Pharma America will serve as a valuable growth engine. Sumitomo Pharma America will have increased scale and a combined network of resources and talent to accelerate a diverse portfolio of commercial and investigational programs for critical indications while creating a sustainable platform for growth."
"Sumitomo Pharma America represents an exciting opportunity to leverage each subsidiary's competitive strengths to create an innovative biopharma company with the scale, agility and efficiency needed for accelerated impact and patient-focused outcomes," said Myrtle Potter, current CEO of Sumitovant and future President and CEO of Sumitomo Pharma America. "We will combine our deep R&D and life sciences expertise with unparalleled advance technology platforms, DrugOME and Digital Innovation, to underpin growth of existing product lines and pipeline efforts. Sumitomo Pharma America will build on the group's mission and bring needed therapies to patients sooner in key areas where treatment options remain limited or non-existent."
"Sumitomo Pharma America will be well positioned to accelerate the development of Sumitomo Pharma Oncology's portfolio, and address unmet needs for cancer patients," said Patricia S. Andrews, Chief Executive Officer and Global Head of Oncology, Sumitomo Pharma Oncology, Inc. "I want to thank our talented Sumitomo Pharma Oncology team for their commitment and hard work, which made this announcement possible. Our people will continue to have a positive impact for patients as part of Sumitomo Pharma America."
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