Moderna, Generation Bio enter licensing deal for genetic medicines

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

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Source: Reuters