# AstraZeneca bets on new cancer treatments with $2 billion Fusion Pharma purchase
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2024-03-19
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: AstraZeneca Invests $2 Billion in Next-Gen Cancer Treatment
Meta Description: AstraZeneca invests in cutting-edge cancer treatments with $2 billion Fusion Pharma purchase, focusing on next-gen radioconjugates for more targeted therapy.
URL: https://economystandard.com/astrazeneca-bets-on-new-cancer-treatments-with-2-billion-fusion-pharma-purchase/

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## 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)


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