Blackstone Bets $750M on Moderna’s Flu Program as Approval Comes into View

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 — 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.

Read the full article: Blackstone Bets $750M on Moderna’s Flu Program as Approval Comes into View //

Source: https://www.fiercebiotech.com/biotech/blackstone-bets-750m-modernas-flu-program-approval-comes-view

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