Fusion Pharmaceuticals, a Phase 1 biotech developing precision medicines for solid tumors, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Fusion's pipeline contains lead candidate FPI-1434, which is designed to target and deliver an alpha emitting isotope to cancer cells expressing the insulin-like growth factor 1 receptor (IGF-1R), a receptor that is overexpressed on many tumor types. The company is currently conducting a Phase 1 trial for solid tumors expressing IGF-1R and plans to report initial data approximately three to six months after it resumes clinical activities due to disruptions caused by COVID-19.
The Hamilton, Canada-based company was founded in 2014 and plans to list on the Nasdaq under the symbol FUSN. Fusion Pharmaceuticals filed confidentially on April 3, 2020. Morgan Stanley, Jefferies, and Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
