Moderna Will Pay $70 Million to Generation Bio for Genetic Medicines
Moderna closed 2022 with a profit of $8.36 billion, which represents a decrease of 31% compared to the previous year. Moderna argues this decrease to the decrease in the demand for vaccines for Covid-19. The company’s commitment to other ailments, in addition to the vaccine for Covid-19, can be seen in the agreement with Merck with which it seeks to develop a vaccine to fight skin cancer.
Moderna is strongly committed to genetic medicines together with Generation Bio. The American company has reached a collaboration agreement with Generation Bio for the development of non-viral genetic medicines. The agreement includes an advanced payment in cash of $40 million (€37.1 million). The second payment is part of an investment of $36 million (€33.4 million), based on the company’s current share prices.
The American biotech company agrees to finance both the collaborative work and the making of a prepayment for the research. Just as Generation Bio is allowed to charge future developments, whether regulatory or commercial, that are part of the agreement. The deal allows Moderna to also purchase common shares if equity financing from Generation Bio is needed in the future.
With this union, what is sought is to combine the technical and biological experience of Moderna with the technologies focused on the non-viral genetic medicine platform of Generation Bio. Under the terms of the agreement, Moderna will carry out two immune cell programs, as well as two other programs focused on the liver. In the same way that the company will have a third program for one of both subjects.
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Moderna closed 2022 with a profit 31% lower than the previous year
“Moderna continues to invest in innovative technology to enable us to develop a broad range of transformative medicines for patients,” said Rose Loughlin, Senior Vice President of Research and Early Development at Moderna. Loughlin added that “through this collaboration, which builds on Generation Bio’s non-viral genetic medicine platform, we have the potential to target immune cells with different nucleic acid loads and the liver for gene replacement.”
Generation Bio’s director of strategy, Phillip Samayoa, noted that “non-viral gene therapies can offer long-lasting medicines to patients suffering from rare diseases on a global scale.”
Samayoa added that “this collaboration represents a fundamental investment in our scientific platform, both furthering the refinement of programs on rare and prevalent liver diseases, beyond hemophilia A and accelerating our work to reach outside the liver with nucleic acid therapies.”
Moderna is running 48 development programs, 38 in clinical trials
The American company closed 2022 with a profit of $8.36 billion, which represents a decrease of 31% compared to the previous year. Moderna argues this decrease to the decrease in the demand for vaccines for Covid-19.
The company’s commitment to other ailments, in addition to the vaccine for Covid-19, can be seen in the agreement with Merck with which it seeks to develop a vaccine to fight skin cancer, which is expected to go to phase III of the study.
The research process is another factor that stands out in the company, which is currently carrying out 48 development programs, 38 of which are in the active clinical trial phase.
(Featured image by qimono via Pixabay)
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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