Moderna wins $750M from Blackstone to fund flu program

Moderna To Request Emergency Authorization For Its Vaccine After Positive Trial Results

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  • Moderna (NASDAQ:MRNA) will receive up to $750M from Blackstone Life Sciences, a unit of private equity firm Blackstone (NYSE:BX), to support its flu program, the companies announced Wednesday.
  • Per the terms of the development and commercialization funding agreement between the parties, in exchange for funding, Blackstone Life Sciences will be eligible for a return based on commercial milestones in addition to low-single-digit royalties.
  • The Massachusetts-area biotech expects to recognize the funding as a reduction in its R&D expenses, and the company said the deal would not impact its 2024 R&D outlook of $4.5B. The company will continue to retain full ownership of the flu program.
  • The announcement was made in conjunction with Moderna’s (MRNA) fifth Vaccines Day event, scheduled to start at 9:00 a.m. ET on Wednesday.

William Murphy

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