AstraZeneca Acquires Fusion Pharmaceuticals for $2 Billion

AstraZeneca has announced a $2 billion acquisition of Fusion Pharmaceuticals, significantly investing in the burgeoning field of radiopharmaceuticals. This strategic move aims to integrate Fusion’s advanced radiotherapy technologies, mainly its flagship product, FPI-2265, into AstraZeneca’s oncology portfolio. FPI-2265 is a promising treatment in phase 2 development for metastatic castration-resistant prostate cancer (mCRPC), leveraging the potent alpha radiopharmaceutical actinium-225 to target PSMA-expressing cells. This acquisition marks a departure from AstraZeneca’s initial collaboration with Fusion in 2020, reflecting the escalating interest and potential in radiopharmaceuticals for cancer treatment. The deal also includes the possibility of an additional $400 million in payments contingent on achieving specific regulatory milestones. Fusion’s focus on developing treatments for patients previously treated with Novartis’ Pluvicto, alongside its investment in actinium supply and production capabilities, positions AstraZeneca favorably in the competitive landscape of radiopharmaceutical development. This acquisition is part of a larger trend of significant investments by pharmaceutical giants in radiopharmaceutical, highlighting the industry’s recognition of its therapeutic potential.

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[Source: Fierce Biotech, March 19th, 2024]