Moderna, a Cambridge, Massachusetts-based bio/pharmaceutical company, and Blackstone, an investment-management firm, have announced a new collaboration under which Blackstone will provide up to $750 million to fund Moderna’s influenza program. 

Under the agreement, funds managed by Blackstone Life Sciences, will provide up to $750 million to fund Moderna’s flu program. If successful, Blackstone 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. 

Moderna stated that the funding does not result in any change to Moderna’s 2024 research and development framework spending of approximately $4.5 billion. 

Source: Moderna and Blackstone