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McMaster U start-up lands $105 million investment to develop cancer treatments

By Jesse Schwartz
Published: April 10th, 2019

A start-up from McMaster University in Canada has landed a US$105 million investment to bring new treatments for cancer to market.

Fusion Pharmaceuticals has developed products including a delivery system that seeks out and infiltrates cancer cells to deliver doses of radiation to a precise location. The funding round –which includes investors from Canada, the U.S., Ireland, and Sweden — represents one of the largest single private investments in the history of Canadian biotech.

“We have made tremendous progress in the last two years, and this financing reflects strong support for our work, our people and product pipeline,” says McMaster professor and Fusion CEO John Valliant. “With this investment, we will be able to broaden our team and clinical program and accelerate our strategies to develop new therapies.”

Fusion is based at the McMaster Innovation Park, which offers resources to help university researchers commercialize their technologies.

Ty Shattuck, CEO of the Innovation Park, comments on Fusion’s success: “It is a tremendous day when we actually see one of our companies get to this point. But more than that, it speaks to the health of the innovation ecosystem. It is an inspiration for other entrepreneurs and other companies and it tells the rest of the world that we are here, that the ecosystem isn’t theoretical, that it isn’t words but is actually real. When real capital comes in, that’s the litmus test of reality.”

Source: The Hamilton Spectator

Posted under: Tech Transfer e-News

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