HAMILTON — Canadian cancer treatment developer Fusion Pharmaceuticals Inc. has signed a deal to be bought by AstraZeneca in an agreement valued at up to US$2.4 billion.
Fusion, based in Hamilton, is focused on developing radioconjugates which are used to deliver radiation directly to cancer cells.
"This acquisition combines Fusion's expertise and capabilities in radioconjugates, including our industry-leading radiopharmaceutical R&D, pipeline, manufacturing and actinium-225 supply chain, with AstraZeneca's leadership in small molecules and biologics engineering," Fusion chief executive John Valliant said in a statement.
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