The Canada Pension Plan Investment Board is investing US$20 million in Fusion Pharmaceuticals Inc., a Hamilton, Ont.-based precision oncology company.

The funds will go towards expanding the use of the company’s radiopharmaceutical platform, which attaches medical isotopes to targeting molecules to kill solid tumour cells.

Read: CPPIB, BCI taking stakes in separate health-care technology companies

“CPPIB’s investment reflects strong support for Fusion’s platform technology and people and demonstrates momentum in the radiopharmaceutical industry,” said John Valliant, Fusion’s chief executive officer, in a press release. “The additional capital provides opportunities for Fusion to accelerate our growth plans and our pipeline of novel and combination therapy assets that can deliver effective and personalized radiation therapies to cancer patients.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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