Fusion Pharmaceuticals

Established: 2015

Investors: Seroba, HealthCap, Johnson & Johnson, Federated Hermes, Deerfield Management Company, OrbiMed, Varian, Adams Street Partners

Fusion Pharmaceuticals is a spin-out from the Centre for Probe Development and commercialisation (CPDC) at McMaster University. Fusion is a clinical-stage oncology company focused on developing next-generation targeted radiopharmaceuticals.

Targeted radiopharmaceuticals combine the precise targeting using antibodies, small molecules or peptides with potent medical radioisotopes to deliver radiation directly to cancer cells. By seeking out cancer cells, these therapies provide a more precise potent mechanism of cancer cell killing compared with traditional radiation therapy, with the goal of improving efficacy while minimizing toxicity on healthy cells. FPI-2265, the most advanced program of the company, is an actinium-225 based PSMA targeted radioscope, for the treatment of metastatic prostate cancer, currently in a Phase II trial. The company also has a rich pipeline of other clinical and earlier stage targeted radiopharmaceutical assets.

100k+

annual doses production capacity

113

staff members

$2.4bn

acquisition by AstraZeneca on 19 March 2024

Fusion has differentiated itself in the growing radioconjugate space by assembling an industry-leading team with deep expertise and infrastructure to support bringing these much-needed therapies to cancer patients. Together we look forward to building upon our work to impact the landscape of cancer therapy. Deepening our collaboration with AstraZeneca presents an exciting opportunity for the Fusion team.

Key achievements

Lead Program (AcPSMA) to treat prostate cancer in Phase 2/3: Positioned to be first Ac-PSMA targeted radiotherapy to market for treatment of postlutetium metastatic castration-resistant prostate cancer, if approved; achieved alignment with FDA on potential registration pathway.
Actinium & Manufacturing Advantages Platform: Early investments in 225Ac & a fully operational manufacturing facility designed to meet supply demands provides strategic advantage.
Diversified Clinical-Stage Platform: Novel targeted alpha therapies (Targeted Alpha Therapeutics) including next-gen anti-body drug conjugates to move the field beyond neuroendocrine tumours and prostate cancers.
Platform-Validating Partnership: Collaboration with AstraZeneca (since 2 November 2020) leveraging Fusion’s platform and deep expertise.
Acquisition by AstraZeneca for up to $2.4 billion. (19 March 2024)

Funding history

Spin-out from the Centre for Probe Development and Commercialisation (CPDC). Of note, John Vaillant current CEO & Founder of Fusion as well as the CPDC. Eric Burak was ex CSO at CPDC and is current CTO of Fusion.
25 Sept. 2017 $46M Series A : Seroba is amongst the investors in Series A including JJDC, HealthCap, Varian and Adam Street Partners. Board seat for Alan O’Connell (Seroba)
2 April 2019 Oversubscribed Fusion $105M Series B Orbimed, Perceptive Advisors, Rock Springs Capital etc. alongside existing investors such as Seroba, Adam Street Partners etc.
Fusion listed on Nasdaq FUSN, raising $212M on 26 June 2020