Fusion Pharmaceuticals Closes an Oversubscribed US$46 Million Series A Financing

On September 25, 2017, Fusion announced the second closing of its oversubscribed Series A financing, bringing the total capital raised for the current Series A round to US$46 million. Each of Adams Street Partners, Seroba Life Sciences and Varian Medical Systems Inc. participated in the second closing, as new investors, and TPG Biotech and FACIT (Fight Against Cancer Innovation Trust) (each of which are original investors in Fusion) also participated. Other existing investors in Fusion include Genesys Capital, HealthCap and Johnson & Johnson Innovation – JJDC Inc.

Fusion is a clinical-stage biopharmaceutical company located in Hamilton, Ontario, Canada focused on becoming the leader in the targeted alpha therapy field. Proceeds from this Series A financing will support the clinical development of Fusion's lead program FPX-01, which targets a specific cancer biomarker to selectively deliver actinium-225 to many types of cancers including those that are refractory to conventional treatments. The financing will also enable Fusion to expand its pipeline and form new strategic partnerships. Fusion is a spin-out from the Centre for Probe Development and Commercialization (CPDC).

Osler, Hoskin & Harcourt LLP represented Fusion with a team consisting of Chad Bayne, David Jamieson, Michael Grantmyre, and Arielle Kaplan (Corporate), Pat Marley, Emily Gilmour (Taxation), and Steve Dickie (Labour & Employment).