diff --git a/.gitignore b/.gitignore
index 6021257..c90de32 100644
--- a/.gitignore
+++ b/.gitignore
@@ -7,3 +7,4 @@ build/
 dist/
 .cache/
 *.egg-info
+poetry.lock
diff --git a/.travis.yml b/.travis.yml
index fbea35b..ff33629 100644
--- a/.travis.yml
+++ b/.travis.yml
@@ -12,10 +12,11 @@ matrix:
     env: PYTHONASYNCIODEBUG=x
     dist: xenial
     sudo: true
+before_install:
+  - pip install poetry
 install:
-  - pip install -r requirements.txt
-  - pip install coveralls
-script: make check
+  - poetry install
+script: poetry run make check
 after_success: coveralls
 notifications:
   email: false
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4a0e8e3..08c1e84 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -103,3 +103,12 @@
 
 - Change default log level from ERROR to INFO
 - Log retries on exception as INFO
+
+## [v1.7.0] - 2018-11-23
+### Changed
+
+- Support Python 3.7
+- Drop support for async in Python 3.4
+- Drop support for Python 2.6
+- Update development dependencies
+- Use poetry for dependencies and packaging
diff --git a/backoff/__init__.py b/backoff/__init__.py
index 9173bf0..c9348fe 100644
--- a/backoff/__init__.py
+++ b/backoff/__init__.py
@@ -26,4 +26,4 @@
     'random_jitter'
 ]
 
-__version__ = '1.6.0'
+__version__ = '1.7.0'
diff --git a/pyproject.toml b/pyproject.toml
new file mode 100644
index 0000000..92ae0d9
--- /dev/null
+++ b/pyproject.toml
@@ -0,0 +1,44 @@
+[tool.poetry]
+name = "backoff"
+version = "1.7.0"
+description = "Function decoration for backoff and retry"
+authors = ["Bob Green <rgreen@goscoutgo.com>"]
+readme = "README.rst"
+repository = "https://github.com/litl/backoff"
+license = "MIT"
+keywords = "python retry backoff asyncio asychnronous synchronous exceptions retrying decorators exponential"
+classifiers = ['Development Status :: 5 - Production/Stable',
+               'Intended Audience :: Developers',
+               'Programming Language :: Python',
+               'License :: OSI Approved :: MIT License',
+               'Natural Language :: English',
+               'Operating System :: OS Independent',
+               'Programming Language :: Python',
+               'Programming Language :: Python :: 2',
+               'Programming Language :: Python :: 2.7',
+               'Programming Language :: Python :: 3',
+               'Programming Language :: Python :: 3.4',
+               'Programming Language :: Python :: 3.5',
+               'Programming Language :: Python :: 3.6',
+               'Programming Language :: Python :: 3.7',
+               'Topic :: Internet :: WWW/HTTP',
+               'Topic :: Software Development :: Libraries :: Python Modules',
+               'Topic :: Utilities']
+packages = [
+    { include = "backoff" },
+    { include = "README.rst" },
+    { include = "LICENSE" },
+]
+
+[tool.poetry.dependencies]
+python = "^2.7 || ^3.4"
+
+[tool.poetry.dev-dependencies]
+flake8 = "^3.6"
+pytest = "^4.0"
+pytest-cov = "^2.6"
+pytest-asyncio = {version = "^0.9.0",python = "^3.5"}
+
+[build-system]
+requires = ["poetry>=0.12"]
+build-backend = "poetry.masonry.api"
diff --git a/requirements.txt b/requirements.txt
deleted file mode 100644
index 7423223..0000000
--- a/requirements.txt
+++ /dev/null
@@ -1,4 +0,0 @@
-flake8==3.6.0
-pytest==3.10.1
-pytest-cov==2.6.0
-pytest-asyncio==0.9.0; python_version >= '3.5'
diff --git a/setup.py b/setup.py
deleted file mode 100644
index 0814583..0000000
--- a/setup.py
+++ /dev/null
@@ -1,50 +0,0 @@
-# coding:utf-8
-
-import backoff
-
-from distutils import core
-
-
-classifiers = ['Development Status :: 5 - Production/Stable',
-               'Intended Audience :: Developers',
-               'Programming Language :: Python',
-               'License :: OSI Approved :: MIT License',
-               'Natural Language :: English',
-               'Operating System :: OS Independent',
-               'Programming Language :: Python',
-               'Programming Language :: Python :: 2',
-               'Programming Language :: Python :: 2.7',
-               'Programming Language :: Python :: 3',
-               'Programming Language :: Python :: 3.4',
-               'Programming Language :: Python :: 3.5',
-               'Programming Language :: Python :: 3.6',
-               'Programming Language :: Python :: 3.7',
-               'Programming Language :: Python :: Implementation',
-               'Programming Language :: Python :: Implementation :: CPython',
-               'Topic :: Internet :: WWW/HTTP',
-               'Topic :: Software Development :: Libraries :: Python Modules',
-               'Topic :: Utilities']
-
-version = backoff.__version__
-url = "https://github.com/litl/backoff"
-tarball_url = "{}/tarball/v{}".format(url, version)
-
-
-def readme():
-    with open("README.rst", "r") as infile:
-        return infile.read()
-
-
-core.setup(name='backoff',
-           version=version,
-           description="Function decoration for backoff and retry",
-           long_description=readme(),
-           packages=['backoff'],
-           author="Bob Green",
-           author_email="rgreen@goscoutgo.com",
-           keywords="backoff function decorator",
-           url=url,
-           download_url=tarball_url,
-           license="MIT",
-           python_requires='>=2.7, !=3.0.*, !=3.1.*, !=3.2.*, !=3.3.*',
-           classifiers=classifiers)