[[{“value”:”AstraZeneca announced on Tuesday that it will buy Fusion Pharmaceuticals for about$ 2.4 billion.
On its website, Canadian-based Fusion Pharmaceuticals states,” We are pushing the boundaries of science by creating novel precision cancer medicines.”
According to Chief Nerd, AstraZeneca announced on Tuesday that it will purchase American drug developer Fusion Pharmaceuticals Inc. for$ 2 billion in cash as the Anglo-Swedish drugmaker bet on the development of new cancer treatments.
The deal gives AstraZeneca a foothold in the market for radiopharmaceuticals, which has seen growing investor interest since 2021 when data from Novartis ‘ treatment showed that the drug increased prostate cancer patients ‘ survival rates.
AstraZeneca announced on Tuesday that it will purchase Canadian drug developer Fusion Pharmaceuticals Inc. for$ 2 billion in cash as the Anglo-Swedish drugmaker bet on the development of new cancer treatments.
The agreement gives AstraZeneca a foothold in the market for radiopharmaceuticals, which has… pic. twitter.com/eo6aObszmU
— Chief Nerd (@TheChiefNerd ) March 19, 2024
A clinical-stage oncology company known as Fusion Pharmaceuticals Inc., which is focused on developing next-generation radioconjugates (RCs ) as precision medicines, today announced the signing of a definitive agreement to be acquired by AstraZeneca. AstraZeneca’s acquisition represents a significant step forward in achieving its goal of transforming cancer treatment and outcomes by replacing outdated treatments like radiotherapy and chemotherapy with more specific therapies, according to a press release.
” This acquisition combines Fusion’s expertise and capabilities in radioconjugates, including our industry- leading radiopharmaceutical R&, D, pipeline, manufacturing and actinium- 225 supply chain, with AstraZeneca’s leadership in smaller molecules and biologics engineering to develop novel radioconjugates. ” Fusion Chief Executive Officer John Valliant, Ph. D., is pleased to expand on our existing collaboration with AstraZeneca, where we have advanced FPI- 2068, an EGFR- cMET targeted radioconjugate into Phase I medical trials, giving us a unique opportunity to accelerate the development of subsequent- generation radioconjugates with the aim of transforming individual outcomes,” said Fusion Chief Executive Officer John Valliant, Ph. D., said.
AstraZeneca to buy Fusion Pharma for$ 2 billion in cash https ://t.co/kQQlRdrfVN pic. twitter.com/BQ6speEfZR
— Reuters ( @Reuters ) March 19, 2024
From PR Newswire:
Latest research has shown that cancer treatment is promising. By precise targeting using molecules like antibodies, peptides, or small molecules, these medications deliver a radioactive isotope immediately to cancer cells. In contrast to conventional radiotherapy, this technique has a number of potential benefits, including preventing harm to healthy cells and allowing access to tumors that cannot be cured by physical beam radiation.
With the addition of the Fusion pipeline of RCs, including the Company’s most superior program, FPI- 2265, a possible new treatment for patients with malignant castration-resistant prostate cancer (mCRPC ), this acquisition strengthens AstraZeneca’s leading oncology portfolio. FPI- 2265 targets prostate- specific membrane antigen ( PSMA ), a protein that is highly expressed in mCRPC, and is now in a Phase 2 trial.
The acquisition brings to AstraZeneca fresh expertise and ground-breaking R&, D, manufacturing, and supply chain capabilities in actinium-based RCs. Additionally, it strengthens their presence and commitment to Canada.
AstraZeneca and Fusion Pharmaceuticals made a deal worth more than$ 2 billion to acquire the company that is specialized in cancer radiation therapies. https ://t.co/9D5bzUXSk1
— STAT ( @statnews ) March 19, 2024
We are a clinical-stage biotech company that creates the next-generation radiopharmaceuticals as cancer precision medicines. ” We have combined our proprietary Fast-Clear Linker technology and our Targeted Alpha Therapies, or TAT ), development to enable us to connect alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the therapies to tumors,” says Fusion Pharmaceuticals.
” We believe our custom Fast- Clear linker technology is a safer approach to precise radiopharmaceuticals. Fast- Clear represents a pioneering step in the development of healthy and productive fresh radiotherapeutics as the standard of care for the treatment of various tumor types. We think that this evolution of radiopharmaceuticals has great potential to make cancer patients ‘ lives better, the company added.
STAT News reports:
AstraZeneca will pay$ 2 billion in cash upfront for Fusion, a price that at$ 21 a share is nearly double Fusion’s closing share price on Monday. If certain regulatory milestones are met, AstraZeneca will pay another$ 3 a share, or roughly$ 400 million.
Fusion specializes in developing radiopharmaceuticals, also known as radioconjugates or radioligands, which deliver radiation directly to tumors, guided by certain markers on cancer cells. The goal is to reach tumors that conventional radiation cannot, as well as reduce the risk of damaging surrounding, good tissue.”}]] [[{“value”:”
AstraZeneca announced Tuesday that it will acquire Fusion Pharmaceuticals for approximately $2.4 billion.
Fusion Pharmaceuticals, a Canadian company, states on its site that it is “pushing the boundaries of science” to create innovative precision cancer medicines.
Chief Nerd reported that “AstraZeneca announced on Tuesday that it would buy Canadian drug developer Fusion Pharmaceuticals Inc. for $2 billion cash as the Anglo/Swedish pharmaceutical company bets on new-generation cancer treatment.”
The deal gives AstraZeneca an entry into the radiopharmaceutical drug market, which has been attracting increasing investor interest ever since 2021, when data from Novartis treatment showed that it extended survival for prostate-cancer patients.
“AstraZeneca announced on Tuesday that it would buy Canadian drug developer Fusion Pharmaceuticals Inc. for $2 billion cash, as the Anglo/Swedish pharmaceutical company bets on new cancer treatments.
The deal gives AstraZeneca a foothold in the radiopharmaceutical drugs market, which has… pic.twitter.com/eo6aObszmU
Chief Nerd @TheChiefNerd March 19, 2024
Fusion Pharmaceuticals Inc. a clinical-stage company that focuses on developing next-generation RCs as precision medicines announced today the Company had entered into a binding agreement to be purchased by AstraZeneca. A press release stated that the acquisition marked a major step in AstraZeneca’s ambition to transform cancer treatments and outcomes for patients.
This acquisition combines Fusion’s expertise in radioconjugates with AstraZeneca’s leadership in small molecule and biologics engineering in order to develop novel radioconjugates. Fusion Chief Executive Officer John Valliant said that the expansion of our existing collaboration with AstraZeneca, where we have advanced FPI-2068 an EGFR cMET targeted radioconjugate to Phase I clinical trials gives us a rare opportunity to accelerate development of next-generation EGFR-cMET radioconjugates in order transform patient outcomes.
AstraZeneca to buy Fusion Pharma for $2 billion in cash https://t.co/kQQlRdrfVN pic.twitter.com/BQ6speEfZR
— Reuters (@Reuters), March 19, 2024
From PR Newswire
In recent years, RCs have become a promising treatment for cancer. These medicines deliver radioactive isotopes directly to cancerous cells by using precise targeting molecules such as antibodies or peptides. This approach offers many advantages over traditional radiotherapy. It minimizes damage to healthy cells, and allows access to tumors that are not reachable by external beam radiation.
This acquisition will complement AstraZeneca’s leading oncology pipeline with the addition to the Fusion pipeline of RCs. The Company’s most advanced program is FPI-2265. It could be a new treatment for patients who have metastatic castration resistant prostate cancer (mCRPC). FPI-2265 is a drug that targets prostate-specific antigen (PSMA), which is highly expressed in metastatic castration-resistant prostate cancer (mCRPC). It is currently undergoing a Phase 2 clinical trial.
AstraZeneca gains access to new expertise, including R&D, manufacturing, and supply chain capabilities for actinium-based RCs. The acquisition also strengthens AstraZeneca’s commitment to Canada and their presence there.
AstraZeneca has agreed to buy Fusion Pharmaceuticals for more than $2 billion. The deal involves a company that specializes in targeted radiation therapy for cancer. https://t.co/9D5bzUXSk1
— STAT (@statnews), March 19, 2024
We are a clinical stage biopharmaceutical firm developing next-generation radiopharmaceuticals for precision medicine in the treatment of cancer. Fusion Pharmaceuticals writes that they have developed their Targeted Alpha Therapies (TAT) platform, which is a combination of our proprietary Fast-Clear technology and our Targeted Alpha Therapies platform. This allows us to connect alpha-emitting isotopes with antibodies and other targeting molecules to deliver the therapy to tumors.
“We believe our proprietary Fast-Clear linker technology is a safer approach to targeted radiopharmaceuticals. Fast-Clear is a revolutionary step in the development of safe and effective radiotherapeutics for the treatment of various tumor types. This evolution of radiopharmaceuticals has great promise for improving the lives of cancer patients,” the company said.
STAT News:
AstraZeneca is paying $2 billion upfront in cash for Fusion. At $21 per share, this price is nearly twice the closing share price of Fusion on Monday. AstraZeneca may pay an additional $3 per share, or approximately $400 million, if certain regulatory milestones have been met.
Fusion specializes in developing radiopharmaceuticals, also known as radioconjugates or radioligands, which deliver radiation directly to tumors, guided by particular markers on cancer cells. The goal is to not only minimize the risk of damaging healthy tissue around tumors, but also reach them that traditional radiation cannot.
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