Fusion Pharmaceuticals Shareholders Approve AstraZeneca Acquisition

HAMILTON, ON and BOSTON, May 29, 2024 – Fusion Pharmaceuticals (Nasdaq: FUSN), a clinical-stage oncology firm specializing in next-generation radioconjugates (RCs), has announced that its shareholders have approved the company's acquisition by a wholly-owned subsidiary of AstraZeneca. This decision was made during a special virtual meeting held earlier today.

The acquisition plan, known as the "Arrangement," was favored overwhelmingly by the shareholders. As of April 16, 2024, the record date for the meeting, Fusion Pharmaceuticals had approximately 84,965,608 shares eligible to vote. During the meeting, 68,678,602 shares, representing about 80.83% of the total shares, were cast in votes.

The approval was near-unanimous, with 99.92% of votes in favor of the transaction. This includes votes from shareholders both present in person and represented by proxy, voting as a single class. Additionally, when excluding the votes of certain shareholders as mandated by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, the approval percentage remained at 99.92%.

A formal report detailing the voting results will be filed under Fusion's profile on SEDAR+, providing transparency on all matters voted upon at the meeting.

The next step for the Arrangement involves obtaining court approval and satisfying other customary closing conditions. The transaction is expected to be finalized by the end of the second quarter of 2024.

About Fusion Pharmaceuticals

Fusion Pharmaceuticals is a clinical-stage company developing innovative RCs to treat cancer. These RCs work by connecting alpha particle-emitting isotopes to targeting molecules, which selectively deliver the radioactive payload to tumors. The company’s lead program, FPI-2265, targets prostate-specific membrane antigen (PSMA) for metastatic castration-resistant prostate cancer (mCRPC). Additionally, Fusion is developing new RCs aimed at treating various solid tumors. The company operates a Good Manufacturing Practice (GMP) compliant radiopharmaceutical manufacturing facility to support the production needs of its growing pipeline.

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