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.

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