Apr-2019
McMaster startup Fusion Pharmaceuticals nets historical $105 million investment
A McMaster University startup company has secured US$105 million in financing, one of the largest single private investments in Canadian biotech history.
Fusion Pharmaceuticals — formed in 2015 and based at the McMaster Innovation Park on Longwood Road South — develops cancer therapy products including a delivery system that seeks out and infiltrates cancer cells to deliver doses of radiation to a precise location.
“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 company CEO John Valliant, who is also a professor of chemistry and chemical biology at the university. “With this investment we will be able to broaden our team and clinical program and accelerate our strategies to develop new therapies.”
The development is interesting because it is a strong example of why the innovation park was established. The goal — when the 54-acre research facility was officially opened in 2009 — was to design products for the marketplace out of university research.
Read the full Hamilton Spectator article here