Cases & Deals

Dainippon Sumitomo Pharma acquires oncology-focused biotechnology company Boston Biomedical for $200 million plus up to $2.2 billion in earnouts

Client(s) Dainippon Sumitomo Pharma Co.

Jones Day advised Dainippon Sumitomo Pharma Co. in its acquisition of Boston Biomedical Inc. ("BBI") for US$200 million plus up to US$2.2 billion in earnouts. BBI is a bio-venture company focusing on the cancer area and possesses two highly promising products in their pipeline called BBI608 and BBI503, which are small molecular oral drugs created by BBI with the aim to cause an antitumor effect in cancer stem cells.

In addition to M&A representation, Jones Day provided intellectual property, employee benefits, antitrust, and tax advice regarding this transaction.