AstraZeneca (AZ; NASDAQ: AZN), the UK-based pharmaceutical giant, has announced its intention to acquire Fusion Pharmaceuticals (NASDAQ: FUSN), a Canada-based developer of radioconjugate (RC) therapies, in a deal valued at up to USD 2.4 billion, including upfront and potential contingent value payments. The acquisition is expected to be finalized in the second quarter of 2024, subject to customary closing conditions.
The two companies have been working together on the development of the EGFR-cMET-targeting radioconjugate candidate FPI-2068, which is currently in the early stages of development. Fusion’s pipeline also features the lead asset FPI-2265, an anti-PSMA radioconjugate that is in a Phase II trial for metastatic castration-resistant prostate cancer (mCRPC). Through this acquisition, AstraZeneca will gain access to Fusion’s expertise, manufacturing, and supply chain capabilities, particularly in actinium-based radioconjugates.
This strategic move by AstraZeneca highlights its commitment to expanding its presence in the radiopharmaceuticals space, an area that is seeing significant interest from major pharmaceutical companies. According to the public data, other key players in the development of radiopharmaceuticals include Bristol Myers Squibb (BMS; NYSE: BMY), Eli Lilly (NYSE: LLY), and Novartis (NYSE: NVS), indicating a competitive landscape in this therapeutic segment.- Flcube.com
