Canada. Fusion Pharmaceuticals Announces Investment from Canada Pension Plan Investment Board (CPPIB)
Fusion Pharmaceuticals Inc., a clinical-stage precision oncology company developing next-generation radiopharmaceuticals, today announced an investment commitment of up to US$20 million from Canada Pension Plan Investment Board (CPPIB). CPPIB joins Fusion’s existing group of top-tier investors adding to the US$105 million Series B announced in April 2019.
The financing will primarily be used to expand the use of the Company’s Fast-Clear™ Linker Technology platform by investing in new partnerships and targeting molecules to create novel targeted alpha therapeutics, and to continue to advance its lead asset, FPI-1434, currently in a Phase 1 trial for treating solid tumors.
“Fusion is delighted to welcome the support of CPPIB, and to add another prominent institution to our highly regarded investor base,” said Chief Executive Officer John Valliant. “CPPIB’s investment reflects strong support for Fusion’s platform technology and people and demonstrates momentum in the radiopharmaceutical industry.
The additional capital provides opportunities for Fusion to accelerate our growth plans and our pipeline of novel and combination therapy assets that can deliver effective and personalized radiation therapies to cancer patients.”
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