HAMILTON,
ON and BOSTON, July 6, 2023
/PRNewswire/ -- Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a
clinical-stage oncology company focused on developing
next-generation radiopharmaceuticals as precision medicines, today
announced that the compensation committee of the Company's Board of
Directors granted stock option awards to purchase an aggregate of
38,000 shares of its common stock to one employee outside Fusion's
2020 Stock Option and Incentive Plan. The stock options were
granted as an inducement material to the individual becoming an
employee of Fusion in accordance with Nasdaq Listing Rule
5635(c)(4).
The options have an exercise price of $4.63 per share, which is equal to the closing
price of Fusion's common stock on July 3,
2023. Each option has a ten-year term and vests over four
years, with 25% of the original number of shares vesting on the
one-year anniversary of the grant date and then in equal
installments for 36 months thereafter, subject to the employee's
continued service with Fusion through the applicable vesting
dates.
About Fusion
Fusion Pharmaceuticals is a clinical-stage oncology company
focused on developing next-generation radiopharmaceuticals as
precision medicines. Fusion connects alpha particle emitting
isotopes to various targeting molecules to selectively deliver the
alpha emitting payloads to tumors. Fusion's clinical portfolio
includes: FPI-2265 targeting prostate specific membrane antigen
(PSMA) for metastatic castration resistant prostate cancer
currently in a Phase 2 trial; FPI-1434 targeting insulin-like
growth factor 1 receptor currently in a Phase 1 trial; and
FPI-2059, a small molecule targeting neurotensin receptor 1
(NTSR1), currently in a Phase 1 trial. In addition to a robust
proprietary pipeline, Fusion has a collaboration with AstraZeneca
to jointly develop novel targeted alpha therapies (TATs) and
combination programs between Fusion's TATs and AstraZeneca's DNA
Damage Response Inhibitors (DDRis) and immuno-oncology agents. The
Company recently received IND clearance for FPI-2068, the first
novel TAT under the collaboration, which targets EGFR-cMET. Fusion
has also entered into a collaboration with Merck to evaluate
FPI-1434 in combination with Merck's KEYTRUDA® (pembrolizumab) in
patients with solid tumors expressing IGF-1R. To support Fusion's
growing pipeline of TATs, the Company has signed strategic actinium
supply agreements with TRIUMF, Niowave, Inc. and BWXT Medical.
For further information: Amanda
Cray, Senior Director of Investor Relations & Corporate
Communications, 617-967-0207, cray@fusionpharma.com
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SOURCE Fusion Pharmaceuticals