McMaster’s Fusion Pharmaceuticals to be acquired by AstraZeneca for $2.4B USD

AstraZeneca has announced that it will acquire Fusion Pharmaceuticals, a publicly traded spin-out company of McMaster University’s Centre for Probe Development and Commercialization, for $2.4B USD. Fusion Pharmaceuticals—which develops radiopharmaceuticals to provide precision cancer treatments—will continue to complete its research and manufacturing operations in Canada and the US, including at its location in McMaster Innovation Park. “This agreement speaks to our researchers’ ability to convert their world-class research into innovations that generate economic activity, create jobs and, most important, improve health outcomes for patients in Canada and globally,” said McMaster President David Farrar. McMaster says that this is one of the highest-valued acquisitions of a Canadian university spinout company.

McMaster | Globe and Mail