On April 3, 2023 Sunovion Pharmaceuticals Inc., an indirect, wholly owned subsidiary of Sumitomo Pharma Co. Ltd, announced today 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 Sumitomo Pharma Oncology, Inc. to form Sumitomo Pharma America, Inc. effective July 1, 2023 (Press release, Sumitomo Pharmaceuticals, APR 3, 2023, View Source [SID1234629778]). 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.
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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."
"Sunovion is proud to have brought forward important therapies over the last decade, which have improved the lives of people worldwide. In addition, Sunovion’s R&D pipeline includes promising new compounds being developed for the treatment of patients suffering from serious neuropsychiatric conditions," said Antony Loebel, M.D., President and CEO, Sunovion. "We look forward to bringing together our strengths with other Sumitomo Pharma Group companies to create new synergies that will contribute to the betterment of healthcare for all.