Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, is announcing the closing of a $75 million senior secured term loan with Fusion Pharmaceuticals Inc. (NASDAQ: FUSN) (“Fusion” or “the Company”), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines to treat a broad range of cancers.
Proceeds from the transaction will be used for general working capital and to fund the advancement of the Company’s pipeline.
Fusion Pharmaceuticals is leveraging its targeted alpha therapy (“TAT”) expertise and platform to advance a pipeline of alpha-emitting radiopharmaceuticals using various classes of targeting molecules to pursue cancer targets in areas of high unmet medical need.
“The Company’s TAT platform has the potential to enhance the tumor-killing power of radiation and is designed for broader applicability across multiple tumor types,” said Christopher A. Herr, senior managing director at Oxford. “We are happy to partner with Fusion, and support its diversified pipeline focused on addressing the unmet needs in cancer treatment.”