AstraZeneca Acquires Fusion Pharmaceuticals for ~$2.4B to Development Radioconjugates for Cancer Treatment
Shots:
- AstraZeneca has signed a definitive agreement to acquire Fusion to expedite the development of radioconjugates for cancer treatment
- AstraZeneca will acquire all of Fusion’s outstanding shares for $21.00/unit in cash making it a total of ~$2B & a non-transferable CVR of $3.00/unit in cash on reaching a specific regulatory milestone, making a total deal value of ~$2.4B. It will further acquire its cash, cash equivalents & short-term investments for $234M as of Dec 31, 2023
- The acquisition adds Fusion’s RC pipeline incl. FPI-2265, under P-II trial for mCRPC, to AstraZeneca’s portfolio as well as new expertise in R&D plus manufacturing & supply chain capabilities in Ac-based RCs along with strengthening its presence across Canada
Ref: AstraZeneca | Image: AstraZeneca
Related News:- AstraZeneca Highlights Results from the P-III (DUO-E) Study Evaluating Imfinzi for the Treatment of Endometrial Cancer at SGO 2024
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
