Moderna said on Monday it has struck a deal with German drug developer Immatics for developing cancer vaccines and therapies, and would pay $120 million in cash and additional milestone payments.
, which was shown to cut the risk of recurrence or death by 44% in patients with deadly skin cancer melanoma, in a mid-stage trial. It also has vaccines under development for flu and respiratory syncytial virus , among others.
Under the terms of collaboration, Moderna will lead the development and commercialization of the cancer vaccines resulting from the collaboration, while Immatics will be responsible for pre-clinical and potential early-stage studies. Immatics will also receive research funding and is eligible for development, regulatory, and commercial milestone payments that could exceed $1.7 billion, Moderna said.Reporting by Christy Santhosh in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta
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