Moderna gets $750M from Blackstone to fund flu vaccine programme

27 Mar 2024
firstwordpharma.com
VaccinePhase 3Clinical ResultmRNA
Moderna is bringing in external funding to continue development of its influenza vaccine programme in the shape of up to $750 million from Blackstone Life Sciences. “Moderna is advancing a broad and diverse pipeline at a pace not seen before in our industry,” remarked CEO Stéphane Bancel, adding “this ambition requires substantial investment in late-stage studies.”
The financing will be provided by funds managed by Blackstone, with the latter eligible to receive milestones and royalties on flu vaccines commericalised by Moderna. The drugmaker noted that it will recognise the funding as a reduction in R&D expenses and will retain full rights and control of its flu programme.
Moderna has a number of seasonal influenza vaccine candidates in clinical development, including mRNA-1010, which met all immunogenicity primary endpoints of a Phase III study. The company intends to seek marketing clearance of mRNA-1010 this year.
More to come.
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