Ropes & Gray represented Blackstone Life Sciences in a collaboration with Moderna, Inc. through a development and commercialization funding agreement where funds managed by Blackstone Life Sciences will provide up to $750 million to fund Moderna’s influenza (flu) program. The transaction was announced on March 27.
Under the agreement, if successful, Blackstone Life Sciences 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 mRNA influenza program.
Blackstone Life Sciences is an industry-leading private investment platform that 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.
The Ropes & Gray team was led by life sciences licensing partner Abigail Gregor and included IP transactions partner Melissa Rones, tax, employment and benefits partner Pamela Glazier, IP transactions counsel Ryan Murphey and strategic transactions associate Ryan McCaffrey.
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