Exhibit 99.1
Fusion Pharmaceuticals Receives Final Court Order Approving Arrangement
HAMILTON, ON and BOSTON, May 31, 2024 /PRNewswire/ — Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radioconjugates (RCs) as precision medicines, today announced it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced statutory plan of arrangement under Section 192 of the Canada Business Corporations Act, pursuant to which a wholly-owned subsidiary of AstraZeneca will acquire all issued and outstanding shares of Fusion (the “Arrangement”). Fusion shareholders will receive US$21.00 per share in cash upfront on completion of the Arrangement plus a deferred payment on the achievement of a future regulatory milestone in the form of a contingent value right of US$3.00 per share. As previously announced, Fusion’s shareholders approved the Arrangement at a special meeting of Fusion’s shareholders on May 29, 2024.
The Arrangement is subject to customary closing conditions. Subject to the satisfaction of such conditions, the transaction is expected to be completed in the second quarter of 2024. Following closing of the Arrangement, Fusion’s common shares will be delisted from NASDAQ. Further details regarding the Arrangement are set out in the management information circular/proxy dated April 25, 2024 which is available at www.sedarplus.com and www.sec.gov.
About Fusion
Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation RCs. Fusion connects alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion’s clinical-stage development portfolio includes lead program, FPI-2265, targeting PSMA for mCRPC and novel RCs targeting solid tumors. Fusion has a fully operational Good Manufacturing Practice compliant state-of-the-art radiopharmaceutical manufacturing facility to meet supply demand for Fusion’s growing pipeline of radioconjugates.
Forward Looking Information
To the extent any statements made in this communication contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information under Canadian securities law (collectively, “forward-looking statements”). Certain statements in this communication may constitute forward-looking statements, which reflect the expectations of Fusion’s management regarding the Arrangement. The use of words such as “may,” “will,” “could,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “seeks,” “endeavor,” “potential,” “continue” or the negative of such words or other similar expressions can be used to identify forward-looking statements. More particularly and without limitation, this communication contains forward-looking statements and information regarding anticipated timing of closing and the satisfaction or waiver of conditions to closing.