Fusion is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Under the agreement with Pepscan, Fusion has global rights to develop and commercialize any peptides discovered during the collaboration.

Fusion also announced the nomination of its targeted alpha therapy (TAT) candidate under the company's collaboration agreement with AstraZeneca. TAT utilizes Fusion's fast-clear linker technology to radiolabel an AstraZeneca-owned bispecific antibody with the alpha-emitting isotope actinium-225. Both companies will jointly develop the novel TAT through a phase I study.

Under the terms of the collaboration agreement, Fusion will be operationally responsible for preclinical development through first-in-human studies, while AstraZeneca will be responsible for subsequent clinical development. The companies will share costs equally through clinical development. Investigational new drug-enabling studies are ongoing, according to the firms.

Financial details of the collaborations were not disclosed.