Boston Biomedical, Inc. Announces Investment by its Parent Company in MPM Oncology Innovations Fund
SUMITOMO CHEM UNSP/ADR (SOMMY)
NASDAQ:AMEX Investor Relations:
sumitomo-chem.co.jp/english/ir
Company Research
Source: PR Newswire
CAMBRIDGE, Mass., March 2, 2020 /PRNewswire/ -- Boston Biomedical, Inc. announced today that its parent company, Sumitomo Dainippon Pharma Co., Ltd. (Osaka, Japan) has invested in the MPM Oncology Innovations Fund (hereinafter, "INV"), and made a donation to the Dana-Farber Innovations Research Fund (hereinafter, "IRF"). The INV and IRF are a unique, first-of-its-kind, impact investing collaboration, which partners fundraising for biotech venture capital investing with philanthropic fundraising for cancer research. INV will focus on creating and investing in early-stage biotech companies developing oncology therapeutic technologies. IRF will support basic science research at Dana-Farber Cancer Institute, a world-class oncology research center. INV will be managed by MPM Capital (hereinafter, "MPM") and IRF is independently managed by a committee of Dana-Farber faculty research leaders. MPM expects 50 percent of capital from INV to be invested in new companies originating from Dana-Far
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