AstraZeneca to acquire Fusion for approximately $2bn
Betsy Goodfellow | March 19, 2024 | News story | Business Services | AstraZeneca, Fusion Pharmaceuticals, Oncology, acquisition, radioconjugates
AstraZeneca has announced that it has entered into a definitive agreement to acquire Fusion Pharmaceuticals for an approximate $2bn. This acquisition forms part of AstraZeneca’s goal to ‘transform cancer treatment and outcomes for patients by replacing traditional regimens like chemotherapy and radiotherapy with more targeted treatments’, according to the press release.
Fusion Pharmaceuticals has a focus on the development of next-generation radioconjugates (RCs), 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 (mCRPC), 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 Oncology 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.”
Betsy Goodfellow
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