BWXT Medical Expands Collaboration with Fusion Pharmaceuticals Through Strengthened Actinium Supply and Access to Generator Technology

BWXT Medical Ltd. and Fusion Pharmaceuticals Inc. (Nasdaq: FUSN) today announced that the companies have entered into an agreement for the supply of generators to produce actinium-225, a medical isotope used to treat cancer in clinical trials.

Under the agreement, BWXT Medical (a subsidiary of BWX Technologies, Inc. (NYSE: BWXT)), will provide Fusion with a preferential supply of radium-225 and access to high-specific activity generator technology (actinium-227-free), enabling Fusion to produce actinium-225 at its Good Manufacturing Practice (GMP) manufacturing facility for the benefit of its clinical trials. In addition, the companies have expanded their existing actinium-225 supply agreement, supporting Fusion’s advancing pipeline of targeted alpha therapies.

Actinium-225 is an alpha-emitting isotope used in Fusion’s targeted alpha therapies (TATs) that combine the isotope with specific tumor-targeting vectors to kill cancer cells while minimizing the impact to healthy tissues. Radium-225 is the parent isotope that undergoes decay to form actinium-225. BWXT’s proprietary generator technology allows for the on-demand isolation of high purity actinium-225 from the radium supplied by BWXT Medical.

BWXT Medical President and Chief Executive Officer Jonathan Cirtain, Ph. D. said, “We’re proud to be expanding our relationship with Fusion, a leading developer of targeted alpha therapies. Our company’s significant investments in infrastructure and intellectual property are demonstrating results for our customers around the world. BWXT Medical’s innovative actinium-225 generator technology will have significant benefits for both clinical and future commercial supply. We look forward to continuing our respective efforts as Fusion’s clinical programs advance and BWXT Medical helps meet the increasing global demand for actinium.”

Fusion Chief Executive Officer John Valliant, Ph.D. said, “Since our inception, Fusion has made proactive investments to secure actinium-225 supply, creating a robust and diversified supply chain. Our contractual relationship with BWXT Medical, an established leader in medical isotope manufacturing and supply with proven ability to produce and deliver high purity actinium, is a critical component of our strategy, and we are excited to expand our relationship. Supply of radium-225 and access to BWXT’s generator technology allows Fusion to be one of the first radiopharmaceutical development companies to have onsite production of high-specific activity actinium-225, providing us superior flexibility in our manufacturing schedules and increased capacity to support our clinical pipeline. This readiness is critical as we prepare to advance our lead program, FPI-2265, which is positioned to be the first actinium-based radiopharmaceutical for prostate specific membrane antigen (PSMA) to market, into a Phase 3 clinical trial.”