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Fusion Pharmaceuticals And Niowave Announce Actinium-225 Collaboration And Supply Agreement; Fusion To Invest $5M For Guaranteed Access To Actinium-225 Supply

Fusion to invest $5M for guaranteed access to actinium-225 supply Agreement augments Fusion's existing supply as company expands pipeline of actinium-based radio pharmaceuticals HAMILTON,

Benzinga · 06/10/2022 07:44
  • Fusion to invest $5M for guaranteed access to actinium-225 supply
  • Agreement augments Fusion's existing supply as company expands pipeline of actinium-based radio pharmaceuticals

HAMILTON, ON and BOSTON and LANSING, Mich., June 10, 2022 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radio pharmaceuticals as precision medicines, and Niowave, Inc., a manufacturer of medical radioisotopes from radium and uranium, today announced that the companies have entered into a collaboration and supply agreement for the development, production, and supply of actinium-225. Under the agreement, Fusion will invest up to $5 million in Niowave to further develop their technology to increase current production capacity of actinium-225, and in return Fusion will have guaranteed access to a pre-determined percentage of Niowave's capacity of the resulting actinium-225, as well as preferred access to any excess supply produced. As part of the agreement, Fusion will also have an option to invest in future production of actinium-225 to scale with Fusion's needs.