Super Bowl 50: Live on WBZ-TV and | Live Blog | Complete Coverage WBZ WEATHER: Live Radar | Current Conditions | TrafficShare Photos | Get Weather App | Blog | Closings

Boston BioMedical Being Sold To Japanese Competitor

By Anthony Silva, WBZ NewsRadio 1030

BOSTON (CBS) – A five year old local biotech will be getting a $200 million upfront payment as part of its sale to a large Japanese drug company.

Boston Biomedical of Norwood is being purchased by Dainippon Sumitomo Pharma, in a deal that could ultimately be worth more than $700 million.

Boston Biomedical founder and CEO Chiang Li says his company is involved in cutting edge cancer research.

WBZ NewsRadio 1030’s Anthony Silva reports

More from New England Business

More From CBS Boston

Taz Show
Download Weather App

Listen Live