Acquisition of Fusion Pharmaceuticals Completed

Acquisition Details - AstraZeneca has successfully completed the acquisition of Fusion Pharmaceuticals Inc through a statutory plan of arrangement under section 192 of the Canada Business Corporations Act [1] - The acquisition includes all of Fusion's issued and outstanding shares, making Fusion a wholly owned subsidiary of AstraZeneca [3] - Fusion shares will be delisted from the Nasdaq Stock Market and deregistered under the U S Securities Exchange Act of 1934 [3] Financial Terms - AstraZeneca paid $21 00 per share in cash at closing plus a non-transferable contingent value right of $3 00 per share, payable upon achieving a specified regulatory milestone by August 31, 2029 [4] - The total transaction value, including the upfront payment and maximum potential contingent value payment, is approximately $2 4 billion [4] - AstraZeneca also acquired Fusion's cash, cash equivalents, and short-term investments totaling $211 million as of March 31, 2024 [4] Strategic Impact - The acquisition enhances AstraZeneca's oncology portfolio with Fusion's pipeline of radioconjugates (RCs), including the advanced program FPI-2265 for metastatic castration-resistant prostate cancer (mCRPC) [2] - AstraZeneca gains new expertise and capabilities in actinium-based RCs, along with R&D, manufacturing, and supply chain advancements [2] - The deal strengthens AstraZeneca's presence and commitment to Canada [2] Fusion's Pipeline and Capabilities - Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation RCs, which connect alpha particle emitting isotopes to targeting molecules for selective tumor delivery [6] - Fusion's lead program, FPI-2265, targets PSMA for mCRPC and is currently in a Phase II trial [12] - The company operates a state-of-the-art radiopharmaceutical manufacturing facility compliant with Good Manufacturing Practice (GMP) standards [6] Radioconjugates in Oncology - RCs combine precise targeting mechanisms with potent medical radioisotopes to deliver radiation directly to cancer cells, improving efficacy while minimizing toxicity to healthy cells [11] - RCs are administered systemically, enabling their use in tumor types not accessible to external beam radiation and targeting cancer cells that have spread from the primary tumor [11] About FPI-2265 - FPI-2265 is an actinium-225 based PSMA-targeting RC for mCRPC, leveraging alpha particle emissions for more potent cancer cell killing with minimal damage to surrounding healthy tissue [12]