AstraZeneca has announced a definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company focusing on developing next-generation radioconjugates (RCs) for cancer treatment. This acquisition significantly advances AstraZeneca’s goal to revolutionize cancer therapy by incorporating more precise and targeted treatment methods, moving away from traditional chemotherapy and radiotherapy approaches.
Radioconjugates represent a cutting-edge treatment modality that delivers radioactive isotopes specifically to cancer cells, minimizing damage to healthy tissue and accessing unreachable tumors by external radiotherapy. One of the highlights of this acquisition is Fusion’s advanced program, FPI-2265, targeting the prostate-specific membrane antigen (PSMA) for metastatic castration-resistant prostate cancer (mCRPC), which is currently in Phase II clinical trials.
The acquisition enriches AstraZeneca’s oncology pipeline with Fusion’s portfolio and introduces new expertise, particularly in actinium-based RCs. It also expands AstraZeneca’s research and development, manufacturing, and supply chain capabilities in the radioconjugate space, affirming its commitment to innovation in cancer treatment and its presence in Canada.
Susan Galbraith, Executive Vice President of Oncology R&D at AstraZeneca, emphasized the acquisition’s potential to transform cancer care through advanced radioconjugate therapies. John Valliant, CEO of Fusion, highlighted the merger’s capacity to combine Fusion’s radiopharmaceutical development expertise with AstraZeneca’s leadership in small molecules and biologics engineering, aiming to enhance patient outcomes.
Following the acquisition, Fusion will operate as a wholly-owned subsidiary of AstraZeneca, maintaining its operations in Canada and the US. As part of the acquisition details, AstraZeneca will acquire all of Fusion’s outstanding shares at $21.00 per share in cash at closing, with an additional non-transferable contingent value right of $3.00 per share contingent upon reaching a specified regulatory milestone.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.