Sumitomo Pharma Co. Ltd will merge its US subsidiaries into Sumitomo Pharma America Inc. to address unmet patient needs in CNS, oncology, urology, women’s health and cell & gene therapies. The new company will include Sumitovant and its US subsidiaries, Myovant, Urovant, Enzyvant, Sumitomo Pharma America Holdings, Sumitomo Pharma Oncology, and Sunovion Pharmaceuticals. Spirovant Sciences will operate independently under Sumitomo Pharma America. The combined resources and talent will accelerate the pipeline and commercialization of new therapies. The merger will be complete on July 1, 2023. Myrtle Potter, CEO of Sumitovant, will become the President and CEO of Sumitomo Pharma America.
Sumitovant Biopharma Ltd. (“Sumitovant”) announced today that its parent company Sumitomo Pharma Co., Ltd. (“Sumitomo Pharma”) will combine its wholly owned U.S. subsidiaries to form Sumitomo Pharma America, Inc. (“Sumitomo Pharma America”). Sumitomo Pharma America will combine Sumitovant and its wholly owned U.S. subsidiaries, Myovant Sciences, Inc., Urovant Sciences, Inc., and Enzyvant Therapeutics, Inc., as well as Sumitomo Pharma’s other U.S. subsidiaries Sumitomo Pharma America Holdings, Inc., Sumitomo Pharma Oncology, Inc., and Sunovion Pharmaceuticals Inc. 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 July 1, 2023.
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.
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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.”
“This important combination was made possible by the incredible work being done across Sumitovant and its subsidiaries Myovant, Urovant, Enzyvant and Spirovant. We look forward to bringing together our strengths with Sumitomo Pharma’s other U.S. subsidiaries 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.”
Source: BioSpace