M&A

Fusion Pharmaceuticals has a focus on the development of next-generation radioconjugates (RC s), which have recently emerged as a promising development in cancer treatment. Its most advanced programme, FPI-2265 is a potential treatment for patients with metastatic castration-resistant prostate cancer (mCR PC), which is currently in a phase 2 trial.

It is expected that Fusion Pharmaceuticals will become a wholly owned subsidiary of AstraZeneca, with operations expected to continue in Canada and the US.

Susan Galbraith, executive vice president of Oncolog y R&D at AstraZeneca, commented: “Between 30-50% of patients with cancer today receive radiotherapy at some point during treatment, and the acquisition of Fusion furthers our ambition to transform this aspect of care with next-generation radioconjugates. Together with Fusion, we have an opportunity to accelerate the development of FPI-2265 as a potential new treatment for prostate cancer, and to harness their innovative actinium-based platform to develop radioconjugates as foundational regimens.”

John Valliant, chief executive officer at Fusion, added: “This acquisition combines Fusion’s expertise and capabilities in radioconjugates, including our industr y-leading radiopharmaceutical R&D, pipeline, manufacturing and actinium-225 supply chain, with AstraZeneca’s leadership in small molecules and biologics engineering to develop novel radioconjugates. Expanding on our existing collaboration with AstraZeneca where we have advanced FPI-2068, an EGFR-cMET targeted radioconjugate into phase 1 clinical trials, gives us a unique opportunity to accelerate the development of next-generation radioconjugates with the aim of transforming patient outcomes.”