LONDON (dpa-AFX) - AstraZeneca (AZN.L, AZN), on Wednesday, announced the
completion of the acquisition of Fusion Pharmaceuticals Inc., a clinical-stage
biopharmaceutical company developing next-generation radioconjugates (RCs).

AstraZeneca, through a subsidiary, has completed the acquisition of all
outstanding shares of Fusion as per the definitive agreement. The acquisition
was executed under a plan of arrangement, with each share priced at $21.00 in
cash at closing and an additional non-transferable contingent value right of
$3.00 per share in cash payable upon the attainment of a specified regulatory
milestone before 31st August 2029.

When considering the upfront payment and the maximum potential contingent value
payment, the transaction denotes a combined value of about $2.4 billion. Within
the scope of the transaction, AstraZeneca acquired the cash, cash equivalents,
and short-term investments on Fusion's balance sheet, comprising a total of $211
million as of 31st March 2024.

As a result of the acquisition, Fusion has become a wholly owned subsidiary of
AstraZeneca, with operations in Canada and the US. The Fusion shares are set to
be delisted from the Nasdaq Stock Market and will be deregistered under the U.S.
Securities Exchange Act of 1934. Fusion has also applied to cease being a
reporting issuer under relevant Canadian securities laws.

This acquisition complements AstraZeneca's oncology portfolio by adding the
Fusion pipeline of RCs, which includes their most advanced program, FPI-2265, a
potential new treatment for patients with metastatic castration-resistant
prostate cancer (mCRPC). Furthermore, it brings new expertise and pioneering
research and development, manufacturing, and supply chain capabilities in
actinium-based RCs to AstraZeneca. Additionally, it reinforces AstraZeneca's
presence in and commitment to Canada.



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