Fusion Pharmaceuticals Inc., a clinical-stage oncology company focused on radiopharmaceuticals as precision medicines, has entered a collaboration with AstraZeneca to develop and commercialize next-generation alpha-emitting radiopharmaceuticals and combination therapies for the treatment of cancer.

The collaboration leverages Fusion’s Targeted Alpha Therapies (TATs) platform and expertise in radiopharmaceuticals with AstraZeneca’s leading portfolio of antibodies and cancer therapeutics, including DNA Damage Response Inhibitors (DDRis).

The companies will work to discover, develop and commercialize novel TATs, which will utilize Fusion’s Fast-Clear linker technology platform with antibodies in AstraZeneca’s oncology portfolio. In addition, the companies will exclusively explore certain specified combination strategies between TATs (including Fusion’s lead candidate FPI-1434) and AstraZeneca therapeutics, for the treatment of various cancers. Both companies will retain full rights to their respective assets.

The agreement includes an upfront payment from AstraZeneca, as well as future development milestone and other payments.

Fusion will be responsible for preclinical development through first-time-in-human studies, while AstraZeneca will be responsible for clinical development. For these novel TATs, the companies will share development costs and Fusion will have co-promotion rights in the U.S. and AstraZeneca will have commercialization rights in the rest of the world. Both companies will have a 50/50 profit and loss share on a worldwide basis.