AstraZeneca Acquires Fusion Pharmaceuticals for Cancer Treatments

AstraZeneca announced its acquisition of clinical-stage biopharmaceutical company Fusion Pharmaceuticals Inc. for approximately 2 billion USD in cash, as part of its strategy to invest in innovative cancer treatments. 

This marks AstraZeneca's second acquisition this month, following its purchase of Amolyt Pharma for 1.05 billion USD to bolster its rare disease portfolio. The deal includes a premium of over 97% per share compared to Fusion's closing price on Monday. Fusion specializes in developing next-generation radioconjugates (RCs) for cancer treatment, with its lead program, FPI-2265, currently in mid-stage trials for metastatic castration-resistant prostate cancer. 

AstraZeneca aims to transform cancer care by leveraging the potential of next-generation RCs, alongside other targeted treatments like antibody-drug conjugates (ADCs). Additionally, AstraZeneca will pay a contingent value right of USD 3 per share, bringing the total transaction value to around 2.4 billion USD. Fusion has aligned with the FDA on its Phase 2/3 protocol for FPI-2265, with a Phase 3 registrational trial expected to commence in 2025.