IPSEF - Fusion closes acquisition of IPN-1087 from Ipsen

Fusion Pharmaceuticals (FUSN) has completed the acquisition of IPN-1087, a small molecule targeting tumors, from Ipsen (IPSEY).Fusion intends to use IPN-1087, which targets the protein neurotensin receptor 1 (NTSR1), to create an alpha-emitting radiopharmaceutical, FPI-2059, for solid tumors expressing NTSR1.Fusion has issued Ipsen (IPSEF) 600,000 of its shares.In addition, Fusion is obligated to pay Ipsen up to an additional 67.5M Euros ($79.5M) in developmental milestones, low single-digit royalties on future net sales, and up to 350M Euros ($412.2M) in net sales milestones.Fusion shares closed today down 1.2% to $10.59

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Fusion closes acquisition of IPN-1087 from Ipsen