@2022 - All Right Reserved. Designed and Developed by PenciDesign

Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

AstraZeneca bets on new cancer treatments with $2 billion Fusion Pharma purchase

by Staff GBAF Publications Ltd
0 comment

AstraZeneca bets on new cancer treatments with $2 billion Fusion Pharma purchase

By Yadarisa Shabong

(Reuters) -AstraZeneca said on Tuesday it will buy clinical-stage biopharmaceutical company Fusion Pharmaceuticals Inc for about $2 billion in cash as the Anglo-Swedish drugmaker bets on next-generation cancer treatments.

The deal is AstraZeneca’s second this month after it agreed last week to buy Amolyt Pharma for $1.05 billion to shore up its rare disease portfolio.

The drugmaker will pay $21 per Fusion share, a premium of more than 97% to the U.S.-listed company’s closing price on Monday.

Fusion is developing “next-generation” radioconjugates (RCs) to treat cancer.

RCs deliver a radioactive isotope directly to cancer cells through precise targeting using molecules and have emerged as a promising modality in cancer treatment over recent years, AstraZeneca said.

Fusion’s most advanced programme is the FPI-2265, which is currently in a mid-stage trial to treat patients with metastatic castration-resistant prostate cancer.

“Between 30 and 50% of patients with cancer today receive radiotherapy at some point during treatment, and the acquisition of Fusion furthers our ambition to transform this aspect of care with next-generation radioconjugates,” said Susan Galbraith, executive vice president, Oncology R&D at AstraZeneca.

Radiotherapy and chemotherapy have been the mainstays of cancer treatment for decades.

AstraZeneca has been working on other approaches to develop more targeted cancer treatments, including antibody-drug conjugates (ADCs) and RCs.

The U.S. Food and Drug Administration (FDA) first approved ADCs in 2000 and radioconjugates in 2018.

AstraZeneca will also pay a non-transferable contingent value right of $3 per share, taking the combined transaction value to about $2.4 billion.

Fusion announced in January that it has aligned with the FDA on its submitted Phase 2/3 protocol for FPI-2265, with a Phase 3, or late-stage, registrational trial expected to begin in 2025.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio D’Souza, Mrigank Dhaniwala and Susan Fenton)

 

Recent Post