Fusion Pharmaceuticals Inc. a biopharmaceutical company developing targeted alpha-particle radiotherapeutics for treating cancer, has raised US $25 million in Series A financing led by Johnson & Johnson Innovation – JJDC, Inc., with participated of HealthCap, TPG Biotech, Genesys Capital and FACIT (Fight Against Cancer Innovation Trust).
Founded in 2014, Fusion is a spin-out company from the Centre for Probe Development and Commercialization (CPDC), an organization that Dr. John Valliant, Ph.D., founded in 2008. The company has received OICR funding support since its inception. FACIT provided corporate leadership (through its Executive-in-Residence program) as well as seed funding to launch Fusion.
Following the closing of the Series A, Fusion newly constituted board will include Dr. Valliant, Asish Xavier, Ph.D. (Johnson & Johnson Innovation – JJDC, Inc.), Robert Sutherland, Ph.D. (Centre for Probe Development and Commercialization (CPDC)), Eran Nadav, Ph.D. (TPG Biotech), Johan Christenson, M.D. (HealthCap), and Damian Lamb (Genesys), who will assume the role of chairman of the board.
Proceeds from the Series A financing will support and accelerate the clinical development of Fusion’s lead program FPX-01, which targets a specific resistance biomarker present on many types of refractory cancers. The financing will also enable Fusion to build its product pipeline through development of its newly acquired centryin-based targeting technology platform, which is in preclinical development.
photo credit: Fusion Pharmaceuticals