Reinforcing its commitment to transforming cancer treatments, AstraZeneca has agreed to acquire Fusion Pharmaceuticals for an initial value of US$2 B. The deal is primarily driven by Fusion’s lead radio conjugate, FPI-2265, a PSMA-targeted therapy in Phase II studies for metastatic castration-resistant prostate cancer (mCRPC). The takeover marks the third billion-dollar M&A transaction focused on radiopharmaceuticals in the past six months, following Lilly’s US$1.4 B purchase of Point Biopharma and Bristol Myers Squibbs’ US$4.1 B buyout of RayzeBio.