Blackstone entered a new collaboration with Moderna, Inc. through a development and commercialization funding agreement where funds managed by Blackstone Life Sciences will provide up to $750 million to fund Moderna’s influenza program.
Under the agreement, Blackstone will provide up to $750 million to fund Moderna’s flu program and if successful, BXLS will be eligible to receive milestones and royalties on resultant flu products. Moderna will recognize the funding as a reduction in research and development expenses and will retain full rights and control of the company’s influenza program.
“Moderna has demonstrated a remarkable ability to impact human health through mRNA vaccines targeting respiratory illnesses. This landmark collaboration is another example of our long-standing strategy to partner with the world’s leading life science companies to advance their critical path vaccines, medicines and medical technologies to patients,” said Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences.
“Moderna is advancing a broad and diverse pipeline at a pace not seen before in our industry,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Our goal is to launch multiple vaccine products in the next few years and deliver the greatest possible impact to people through mRNA medicines. Achieving this ambition requires substantial investment in late-stage studies and we are excited to welcome Blackstone and their innovative financing model.”
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