HAMILTON,
ON and BOSTON, Sept. 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 90,000 shares of its common stock to two
employees 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 $2.93 per share, which is equal to the closing
price of Fusion's common stock on September
1, 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