Fierce Biotech March 27, 2024
Blackstone Life Sciences is making a $750 million bet on Moderna’s influenza vaccine program as part of the investment platform’s push to “support innovative mRNA technology.”
Under the terms of the agreement—announced ahead of Moderna’s annual Vaccines Day later this morning—Blackstone will provide “up to” $750 million to fund the biotech’s flu vaccines work, in return for an undisclosed amount of “cumulative” commercial milestone payments and “low-single-digit” royalties on any approved products.
Moderna will be using the funding infusion to subsidize the program rather than swell the amount of money available to its flu research.
“Moderna expects to recognize the funding as a reduction in research and development expenses and will retain full rights and control of the company’s flu...
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