Canada Pension Plan Investment Board is investing up to US$20 million in Fusion Pharmaceuticals. Based in Hamilton, Ontario and Boston, Fusion is a precision oncology company focused on developing next-generation radiopharmaceuticals. The deal adds to Fusion’s US$105 million Series B round of last year.
HAMILTON, Ontario & BOSTON–(BUSINESS WIRE)–Fusion Pharmaceuticals Inc., a clinical-stage precision oncology company developing next-generation radiopharmaceuticals, today announced an investment commitment of up to US$20 million from Canada Pension Plan Investment Board (CPPIB). CPPIB joins Fusion’s existing group of top-tier investors adding to the US$105 million Series B announced in April 2019.
The financing will primarily be used to expand the use of the Company’s Fast-Clear™ Linker Technology platform by investing in new partnerships and targeting molecules to create novel targeted alpha therapeutics, and to continue to advance its lead asset, FPI-1434, currently in a Phase 1 trial for treating solid tumors.
“Fusion is delighted to welcome the support of CPPIB, and to add another prominent institution to our highly regarded investor base,” said Chief Executive Officer John Valliant. “CPPIB’s investment reflects strong support for Fusion’s platform technology and people and demonstrates momentum in the radiopharmaceutical industry. The additional capital provides opportunities for Fusion to accelerate our growth plans and our pipeline of novel and combination therapy assets that can deliver effective and personalized radiation therapies to cancer patients.”
About Fusion Pharmaceuticals, Inc.
Fusion Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing targeted alpha therapeutics to treat cancer. Using its proprietary Fast-Clear™ Linker Technology platform, Fusion attaches medical isotopes to targeting molecules creating novel, next-generation cancer treatments. In preclinical studies, the Company has shown the ability to precisely target and effectively kill solid tumor cells while minimizing the impact to healthy tissue. Fusion’s lead program, FPI-1434, is currently in a Phase 1 trial.
With a proprietary discovery platform, Fusion is actively in-licensing targeting molecules and forming strategic partnerships to expand its pipeline of cancer therapies. For more information, please visit www.fusionpharma.com or contact firstname.lastname@example.org.