Moderna, Generation Bio enter licensing deal for genetic medicines (updated)

Generation Bio

23/03/2023 11:29

(Adds details on deal)
       March 23 (Reuters) - Moderna Inc  MRNA.O  said on
Thursday it had entered into a licensing deal and would make a
$36 million equity investment in Generation Bio Co  GBIO.O  to
develop genetic medicine  targeting the immune system and liver
disease.
    Generation Bio will also receive an upfront cash payment of
$40 million, and an additional $1.8 billion in milestone
payments.     
    The deal gives Moderna access to Generation Bio's
proprietary drug delivery system and DNA technology to develop
drugs targeting immune cells and the liver, the companies said.
    Moderna will fund all research and development activities
under the deal.
    Generation Bio's shares were halted in premarket trading. 
   

 (Reporting by Mariam Sunny in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Mariam.ESunny@thomsonreuters.com;))