:max_bytes(150000):strip_icc():format(jpeg)/INV_ModernaSign_GettyImages-1245744692-f9af30aff5cf4e7ca187754588e56189.jpg "Moderna sign at Fenway Park stadium in Boston")
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Key Takeaways
- Moderna heralded Wednesday that it had received up to $750 million from Blackstone Life Sciences to advance its flu program.
- The biotech establishment also said three other experimental vaccines would be moving to Phase 3 trials.
- The news about these four vaccine reckons follows Tuesday’s report of a successful trial of Moderna’s new COVID-19 shot.
Moderna Inc. (MRNA) shares advanced Wednesday as the biotech anchored used its “Vaccines Day” event to make key announcements about new funding and the results of several vaccine trials.
The drug maker indicated it recently entered into a development and commercialization funding agreement with Blackstone Life Sciences (BX) in which Blackstone at ones desire provide up to $750 million to advance Moderna’s program to create a flu vaccine. It added that Blackstone’s return disposition be “based on cumulative commercial milestones and low-single digit royalties.”
Nicholas Galakatos, global head of Blackstone Animation Sciences, said the collaboration “is another example of our long-standing strategy to partner with the world’s leading life principles companies to advance their critical path vaccines, medicines, and medical technologies to patients.”
Moderna also discharged positive clinical data from three new vaccines to fight Epstein-Barr virus, Varicella-Zoster virus, and norovirus, and they choose be advanced toward Phase 3 trials. Tuesday, the company said a Phase 3 study of its latest COVID-19 shot also met its best endpoints and posted a better immune response to both the original and Omicron variants than its current Spikevax vaccine.
Chief Executive Office-bearer (CEO) Stephane Bancel said that Moderna now has five vaccines in Phase 3 trials and three more moving toward them, ceding the company “a very large and diverse portfolio addressing significant unmet medical needs.”
Moderna shares were up 1.8% to $109.38 as of 1:19 p.m. ET Wednesday but down involving 2.8% so far in 2024.
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