Precision oncology startup Fusion Pharmaceuticals raises $26 million CAD

Jan 13 17:01 2020 Print This Article

Biopharmaceutical precision oncology startup Fusion Pharmaceuticals has received a commitment of up to $26 million CAD ($20 million USD) from the Canada Pension Plan Investment Board (CPPIB).

Fusion Pharmaceuticals views targeted alpha therapeutics as the “next generation” of radiation therapy.

This funding comes ten months after Fusion Pharmaceuticals’ $140 million CAD Series B. The startup said the net-new capital will be used to expand the use of its platform that connects medical isotopes to targeting molecules which it says can create novel cancer treatments. It plans to expand the platform by investing in new partnerships as well as targeting molecules that could lead to new treatments.

Funds will also be put toward the company’s lead clinical candidate, FPI-1434, currently in a Phase 1 trial for treating solid tumours. FPI-1434, which Fusion Pharmaceuticals has called its “linker technology,” is intended to combine the precision targeting of an antibody with the potency of alpha-particle emitting medical isotopes. This, the company claims, helps to attack and eradicate cancer cells across multiple tumour types.

Read More

About Article Author


BetaKit is a new publication dedicated to providing original, real-time reporting and analysis of emerging technology news and global innovation. Built by the team behind, BetaKit draws upon an established community of over 80,000 emerging technology founders who are building the next big thing.

Related Items

ATB Financial to host open finance hackathon in February

Alberta-based ATB Financial is hosting an open finance hackathon on February 7 and 9 at Royal Mount University in Calgary. The hackathon aims to “educate and elevate” the conversation around open finance by letting participants collaborate, connect and brainstorm. The event also aims to show ho ...

Nicoya launches third product following $10 million CAD raise

Shortly after raising $10 million CAD in Series A funding, Kitchener-based healthtech startup Nicoya has launched what it calls “the world’s first digital benchtop SPR system,” which aims to help make drug discovery faster. “The future of drug discovery is digital and Alto is very well posi ...

Innovate Financial Health announces startups in first-ever cohort of impact accelerator

Innovate Financial Health, a national non-profit that supports technology to improve Canadians’ financial health, has announced the participants and launch of the first-ever cohort of its IFH Impact Accelerator. The cohort includes tech startups AltruWisdom, PolicyMe, Quber, and Zayzoon. Innovat ...

Today in funding: Aquatic Informatics, Commerce.js, Simply Benefits

Three Canadian startups have announced fresh funding rounds to fuel their growth. Here’s the latest on who raised how much, from whom, and what they’ll be putting the new funds toward. Aquatic Informatics raises $8 million in debt financing Water data management and analytics startup Aquatic In ...

F|T: The FinTech Times – Visa looks good in Plaid

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page. Canadian securities regulator publishes additional guidelines for trading crypto ...

Moving Beyond Compliance as a Privacy Policy Motivator

Over the next 18 months, Canadian businesses can expect to see changes in Canada’s privacy laws. In particular, the Office of the Privacy Commissioner of Canada will likely be granted more enforcement powers. The government sees compliance enforcement as incentive to business to build trust in the ...

HLS Therapeutics has upside left, says Stifel GMP

HLS Therapeutics (HLS Therapeutics Stock Quote, Chart, News TSX:HLS) received a target raise from Stifel GMP analyst Justin Keywood on Thursday as a result of Heath Canada’s acceptance of a New Drug Submission for HLS’ in-licensed schizophrenia drug PERSERIS. The analyst said the drug could rea ...

Air Canada is still an undervalued stock, this investor says

After hitting a new all-time high, Air Canada (Air Canada Stock Quote, Chart, News TSX:AC) has been flying low over the past couple of weeks. Is the dip a good buying opportunity? You bet, says James Telfser of Aventine Asset Management. Shares of Air Canada were down this week along with the rest ...