Moderna, CytomX to collaborate on mRNA-based therapies (updated)

CytomX Therapeutics

05/01/2023 21:32

(Adds details, shares)
       Jan 5 (Reuters) - Moderna Inc  MRNA.O  on Thursday
announced a $35 million licensing deal with CytomX Therapeutics
 CTMX.O  for the development of certain investigational
messenger RNA-based therapies. 
    The upfront payment for cancer-focused drug developer CytomX
includes $5 million in prepaid research funding, and it is
eligible to receive up to about $1.2 billion in future milestone
payments, the companies said in a joint statement. 
    Moderna will also pay CytomX tiered royalties on global net
sales of any products developed and commercialized under the
deal, which provides the biotech company the option to
participate in a future equity financing by CytomX.
    Shares of CytomX rose nearly 34% after the bell.
 (Reporting by Bhanvi Satija in Bengaluru; Editing by Devika
Syamnath)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))