HAMILTON, To and BOSTON, June 2, 2021 / PRNewswire / – Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision drugs, announced today a 15-year lease agreement. known Hamilton, Ontario-based McMaster University to build a 27,000 square meter production facility for radiopharmaceutical products that conforms to Good Manufacturing Practice (GMP). The plant to be built by McMaster and endowed and validated by Fusion, is designed to support the creation of the company’s growing pipeline of Targeted Alpha Therapies (TATs). Fusion expects the manufacturing facility to go live in early 2024.
“Manufacturing and supply chain are critical components of radiopharmaceutical development and commercialization and we believe that with Fusion’s expertise we are well positioned to create a manufacturing facility that scales production to support our growing pipeline and development collaboration,” said Fusion Chief Executive Officer John Valliant, Ph.D. “We will continue to prioritize manufacturing and supply chain infrastructure in our long-term plans, and this facility is an important milestone in the implementation of those plans. The facility’s location is adjacent to our in-house research organization and a world-class university specializing in medical isotope research and education enables us to efficiently advance new TATs and recruit high-profile talent to support our leading portfolio of radiopharmaceuticals. ”
In conjunction with the signing of the lease, Fusion has entered into a service agreement with its long-term partner, the Center for Probe Development and Commercialization (CPDC), to provide services related to certain aspects of the validation of this new manufacturing facility.
Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision drugs. Using a proprietary Fast-Clear ™ linker technology, Fusion combines alpha particle-emitting isotopes with various target molecules to selectively deliver the alpha-emitting payloads to tumors.
Fusion’s lead program, FPI-1434, which targets the insulin-like growth factor-1 receptor, is currently in Phase 1 clinical trials. The pipeline includes FPI-1966, which targets fibroblast growth factor receptor 3 (FGFR3) and FPI-2059, a small molecule recently acquired from Ipsen that targets neurotensin receptor 1 (NTSR1). In addition to a robust proprietary pipeline, Fusion is working with AstraZeneca to jointly develop up to three novel targeted alpha therapies (TATs) and to study up to five combination programs between fusion TATs and AstraZeneca’s DNA Damage Repair Inhibitors (DDris) and immuno-oncology agents. Fusion also recently partnered with Merck to evaluate FPI-1434 in combination with Merck’s KEYTRUDA® (pembrolizumab) in patients with solid tumors expressing IGF-1R.
Certain statements in this press release are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by using terms such as “believes,” “expects,” “plan,” “potential,” “would,” or similar expressions and the negative of these terms. Such forward-looking statements involve significant risks and uncertainties that could cause Fusion’s research and clinical development programs, future results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, the uncertainties associated with the development, expansion and operation of a production facility, risks related to business interruptions due to the coronavirus (COVID-19) outbreak or similar public health crises and other matters other that could affect sufficient liquidity to finance business operations. Fusion assumes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, and risks relating to the company’s business in general, see Fusion’s Quarterly Report on Form 10-Q for the period is over March 31, 2021 which can be found on the website of the Securities and Exchange Commission at www.sec.gov and fusion website at www.fusionpharma.com.
SOURCE Fusion Pharmaceuticals Inc.