A McMaster University spin-out company, Fusion Pharmaceuticals, is being acquired by pharmaceutical giant AstraZeneca for $2.4 billion.
Fusion, founded by McMaster professor John Valliant, develops radioconjugates for precision cancer treatment.
By the second quarter of this year, the company will become a wholly-owned subsidiary of AstraZeneca. It will continue its research and manufacturing operations in the US and Canada, including at the state-of-the-art McMaster Innovation Park in Hamilton, Ontario.
This acquisition marks a significant achievement for both Fusion and McMaster. It solidifies Fusion’s innovative science and propels the development of next-generation cancer therapies.
Valliant credits McMaster’s unwavering support for Fusion’s success, highlighting the university’s role in fostering entrepreneurship and commercialization of academic research. This unique collaboration has driven scientific progress and created a training ground for graduate students in radiopharmaceutical development.
Fusion’s radioconjugates act as “smart bombs” targeting cancer cells with radiation therapy, offering a more precise and effective treatment with reduced side effects. This acquisition positions AstraZeneca as a leader in personalized cancer care, aligning with Fusion’s expertise in this rapidly growing field.
Both companies see this as an exciting opportunity to build upon their work and revolutionize cancer treatment. McMaster President David Farrar emphasizes the university’s commitment to innovation and its role in translating research into tangible benefits for patients globally.