Fusion Pharmaceuticals Announces Research Collaboration with 48Hour Discovery to Develop Peptide-Based Radiopharmaceuticals

HAMILTON, Ontario and BOSTON, Jan. 11, 2022 /CNW/ -- Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced the company has entered into a strategic research collaboration with 48 Hour Discovery Inc. (48HD) to discover novel, peptide-based radiopharmaceuticals for the treatment of various solid tumors.

"Fusion's versatile platform, supported by our internal research capabilities, allows us to create targeted alpha therapies (TATs) using different classes of targeting molecules, tailoring the approach based upon the disease target," said Fusion Chief Executive Officer John Valliant, Ph.D. "With our antibody, bispecific, and small molecule programs in the clinic or progressing through investigational new drug-enabling studies, we are excited to announce our work with peptides. Partnering with a global leader in peptide discovery further diversifies our capabilities and assets needed to create differentiated TATs in multiple areas of high unmet medical need."

Under the agreement, Fusion has global rights to develop and commercialize any peptides discovered under the collaboration.

About Fusion

Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear™ linker technology, Fusion connects alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha emitting payloads to tumors.

Fusion's lead program, FPI-1434 targeting insulin-like growth factor 1 receptor, is currently in a Phase 1 clinical trial. The pipeline includes FPI-1966 targeting the fibroblast growth factor receptor 3 (FGFR3) and FPI-2059, a small molecule recently acquired from Ipsen, targeting neurotensin receptor 1 (NTSR1). In addition to a robust proprietary pipeline, Fusion has a collaboration with AstraZeneca to jointly develop up to three novel targeted alpha therapies (TATs) and explore up to five combination programs between Fusion's TATs and AstraZeneca's DNA Damage Repair Inhibitors (DDRis) and immuno-oncology agents. Fusion also entered into a collaboration with Merck to evaluate FPI-1434 in combination with Merck's KEYTRUDA® (pembrolizumab) in patients with solid tumors expressing IGF-1R.

About 48Hour Discovery

Founded in 2017, 48Hour Discovery Inc. (48HD) is a Canadian biotechnology company focusing on the development of peptide based drugs. 48HD is headquartered in Edmonton, Alberta with satellite sites in San Diego, California and Seoul, South Korea. The 48HD genetically-encoded platform technology and cloud-based discovery management enables rapid identification of pharmaceutical leads in the billion-scale macrocycle therapeutic space. The company has a number of internal discovery projects underway, as well as contracts with five major pharmaceutical companies. For additional information please visit: https://48hourdiscovery.com

SOURCE Fusion Pharmaceuticals Inc.

Amanda Cray, Senior Director of Investor Relations & Corporate Communications, [phone], [email protected]