Blackstone to Fund Moderna's Flu Research With up to $750 Million.

Moderna has secured a $750m investment from Blackstone Life Sciences to develop its mRNA flu vaccines. The biotech firm plans to spend $4.5bn on research and development in 2024 as it aims to develop multiple vaccines to compensate for the decline in sales of its COVID shots. Blackstone Life Sciences will receive commercial milestone payments and low-single digit royalties as part of the agreement.

March 27, 2024
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