Blackstone Life Sciences to invest up to $750 million to support innovative mRNA technology
NEW YORK–(BUSINESS WIRE)–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.
Contacts
Blackstone
Paula Chirhart
Global Public Affairs
paula.chirhart@blackstone.com
(347) 463-5453
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