Blackstone Life Sciences Announces Collaboration to Support Moderna’s Influenza Program
27 Marzo 2024 - 4:34AM
Business Wire
Blackstone Life Sciences to invest up to $750
million to support innovative mRNA technology
Blackstone (NYSE:BX) announced today a new collaboration with
Moderna, Inc. (NASDAQ: MRNA, “Moderna”) through a development and
commercialization funding agreement where funds managed by
Blackstone Life Sciences (“Blackstone”) will provide up to $750
million to fund Moderna’s influenza (“flu”) 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.”
This new collaboration continues Blackstone Life Sciences’ work
and support for many of the world’s leading and most innovative
biopharmaceutical and medical technology companies. Blackstone
seeks to provide customized financing solutions for companies
across therapeutic areas to support mission critical scientific
innovation and advance important products to patients.
About the Transaction
Under the terms of the agreement, funds managed by Blackstone
Life Sciences will provide up to $750 million to fund Moderna’s flu
program. 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.
More information about Moderna’s flu program pipeline can be
found in Moderna’s Vaccines Day press release – being announced
concurrently this morning at: https://investors.modernatx.com/.
Additional terms of the agreement were not disclosed.
About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private
investment platform with capabilities to invest across the life
cycle of companies and products within the key life science
sectors. By combining scale investments and hands-on operational
leadership, Blackstone Life Sciences helps bring to market
promising new medicines and medical technologies that improve
patients’ lives and currently has more than $8 billion in assets
under management.
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Blackstone Paula Chirhart Global Public Affairs
paula.chirhart@blackstone.com (347) 463-5453
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