GlobeNewswire Inc | Dec 16, 2020 09:00AM EST

December 16, 2020

VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) -- TRIUMF, Canadas particle accelerator centre, today announced it has entered into a collaboration agreement with Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Under the agreement, Fusion will provide a financial investment enabling TRIUMF to upgrade its actinium-225 production infrastructure, and in return will receive preferred access toactinium-225, a rare medical isotope that shows great promise in new, cutting-edge cancer therapies.

An alpha-emitting isotope with a short half-life, actinium-225 can be combined with a molecular agent that specifically targets cancer cells, seeking out and destroying the cancer while leaving the surrounding tissue unharmed.The new collaboration will enable TRIUMF to significantly increase its production and delivery of actinium-225.

Todays announcement marks an important step in positioning Canada to play a leading role in the development and deployment of next-generation radiotherapies, and in ensuring that researchers and patients around the world have a stable supply of life-saving medical isotopes, said Dr. Jonathan Bagger, Director of TRIUMF. Enabled by decades of public investment in TRIUMFs infrastructure and research programs, this collaboration recognizes the laboratorys capacity to drive innovation, moving this promising treatment closer to market.

Given Fusions opportunity to expand our pipeline of actinium-based Targeted Alpha Therapies (TATs), and the importance of isotope production in the supply chain of radiopharmaceuticals, we will continue to proactively address and prioritize actinium supply in our strategic plans, said Dr.John Valliant, Chief Executive Officer of Fusion. We are excited to collaborate with TRIUMF, a leader in isotope production, as part of these plans.

With its Targeted Alpha Therapy platform technology, Fusion has an opportunity to impact the cancer treatment landscape, said Kathryn Hayashi, Chief Executive Officer of TRIUMF Innovations. Through this collaboration agreement, we are partnering with a premier developer of innovative radiotherapies to deepen TRIUMFs leadership position in isotope production to help save the lives of patients in Canada and around the world.

Read more about the announcement here.

About TRIUMFTRIUMFis Canadas particle acceleratorcentre. The lab is a hub for discovery and innovation, inspired by a half-century of ingenuity in answering some of natures most challenging questions. From the hunt for the smallest particles in the universe to the development of new technologies, TRIUMF is pushing frontiers in research, while training the next generation of leaders in science, medicine, and business. Learn more about TRIUMFs work to produce more actinium-225 here.

Discover more atwww.triumf.caand connect on Facebook, Twitter, and Instagram: @TRIUMFLab.

About TRIUMF InnovationsTRIUMF Innovations Inc. is TRIUMFs business interface and commercialization arm, connecting Canadas particle accelerator centre to the private sector via industry partnerships, licensing, and company creation. TRIUMF Innovations provides pathways for businesses to access the expertise and infrastructure at TRIUMF and across the TRIUMF network.

Learn more atwww.triumfinnovations.caand connect on Twitter at @TRIUMFInno.

Media Contact:Kamran ShaikhPR Associates7788465406kshaikh@prassociates.com