AstraZeneca is buying Fusion Pharmaceuticals, a Canadian company specializing in radioconjugation cancer treatments, for $2.4 billion.

The acquisition of Fusion Pharmaceuticals by AstraZeneca brings innovative new treatments to the company's portfolio. Radioconjugates developed by Fusion are an alternative to chemotherapy and radiotherapy, minimizing damage to healthy cells. The most advanced treatment, FPI-2265, is for patients with metastatic prostate cancer.