AstraZeneca is paying $2.4bn for Fusion Pharma - but what's it getting?
Proactive Investors
Published Mar 19, 2024 08:31
Updated Mar 19, 2024 10:15
AstraZeneca is paying $2.4bn for Fusion Pharma - but what's it getting?
Proactive Investors - AstraZeneca PLC (LSE:LON:AZN) is acquiring Canada's Fusion Pharmaceuticals for $2.4 billion, in a bid to effectively 'keep up with Joneses' as it seeks to challenge Novartis, which is blazing a trail in targeted cancer treatment.
Fusion specialises in the development of radioconjugates, which focuses on delivering radioactive isotopes directly to cancer cells through precise targeting mechanisms.
The method aims to minimise the harmful side effects often associated with traditional radiotherapy, which can damage healthy cells surrounding the tumour. Its lead asset, FPI-2265, is focused on castration-resistant prostate cancer.
AZ has taken out Fusion at mid-phase II. This is a risk as there hasn't been a full data readout from the trial. But likely it underlines the interest there is in this emerging area of drug R&D.
Novartis and Bayer (ETR:BAYGN) are actively involved in the radioligand therapy space, with Novartis developing Pluvicto for prostate cancer and Bayer offering Xofigo for bone metastases from prostate cancer.
Advanced Accelerator Applications (AAA), now part of Novartis, and Blue Earth Diagnostics contribute to the growing portfolio of molecular nuclear medicine and diagnostic imaging agents, respectively.
Curium and Lantheus Holdings, Inc., further expand the landscape with their nuclear medicine and diagnostic products, such as Lantheus' PSMA-targeted PET imaging agent PYLARIFY.
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