Fusion Pharmaceuticals, a Hamilton, Ontario, Canada-based biopharmaceutical company developing targeted alpha-particle radiotherapeutics for treating cancer, closed a $25m Series A financing.
The round was led by founding venture investor Johnson & Johnson Innovation – JJDC, Inc., with participation from HealthCap, TPG Biotech, Genesys Capital and FACIT (Fight Against Cancer Innovation Trust).
The company intends to use the funds to advance its lead program, FPX-01, into human clinical trials.
Led by founder and chief executive officer Dr. John Valliant, Ph.D., and chief scientific officer, Dr. Eric Burak, Ph.D. Fusion Pharmaceuticals is a new pharmaceutical company focused on the targeted alpha therapy field exploiting its expertise in linking medical isotopes to targeting molecules to create therapeutics.
In addition to its lead program, FPX-01, an antibody-targeted radiotherapy, which seeks out a specific biomarker of resistance that is present on nearly all types of treatment refractory cancers, Fusion is building a pipeline of products through a protein discovery platform, that allows for the rapid screening of new targeting molecules to promote biomarker localization of alpha emitting medical isotopes.