Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life Sciences

Moderna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform.

On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine.

Moderna stated that Blackstone Life Sciences will receive commercial milestone payments and single-digit royalties with this agreement.

Moderna is developing an mRNA flu vaccine to compensate for the decreased revenue from Spikevax, its COVID-19 vaccine, and plans to commence the research and development phase by 2024.

CEO Stephane Bancel said, “I’m pleased to receive Blackstone’s investment support, which is necessary for late-stage research in developing multiple vaccines.”

Moderna’s RSV vaccine is set to launch in the United States this year.

According to data released by Moderna last September, Moderna’s flu vaccine in late clinical trials showed stronger immune responses to the four variants of influenza viruses A and B compared to existing flu vaccines.

Moderna estimates that the flu vaccine market will account for about $7 billion this year and expects the scope to expand as new vaccines are released. It also plans to apply to regulatory authorities this year.

In addition, Moderna is developing a vaccine to prevent Respiratory Syncytial Virus (RSV) infection, a combination injection targeting flu and COVID-19, a second-generation COVID-19 vaccine, and a cancer vaccine developed in collaboration with Merck.

Moderna’s stock rose more than 2% in pre-market trading.