On March 19, 2024, AstraZeneca acquired Fusion Pharmaceuticals Inc. for $21.00 per share plus a $3.00 contingent value right per share, totaling an upfront value of approximately $2 billion and a potential total of $2.4 billion. This transaction marked a significant premium over Fusion's recent market prices. Fusion, a clinical-stage oncology company specializing in radioconjugates (RCs) for cancer treatment, will become a wholly owned subsidiary of AstraZeneca, enhancing its oncology portfolio, especially with Fusion's advanced program, FPI-2265 for metastatic castration-resistant prostate cancer. The deal also includes Fusion's radiopharmaceutical R&D, pipeline, and actinium-based platform. The acquisition aims to transform cancer treatment by advancing precision medicine and minimizing traditional therapy's side effects.

Centerview Partners LLC acted as Fusion's financial advisor, with legal advice from Goodwin Procter LLP and Osler, Hoskin & Harcourt LLP. AstraZeneca's legal counsel included Freshfields alongside Blake Cassels & Graydon for Canadian law. The transaction, expected to close in the second quarter of 2024, is subject to Fusion shareholder approval and regulatory clearances under the Canada Business Corporations Act.