Blackstone Life Sciences (BXLS) has agreed to provide up to US$750 million to support Nasdaq-listed pharmaceutical and biotechnology firm Moderna in its influenza programme.

Under the collaboration, BXLS will be eligible to receive milestones and royalties on the flu products to be developed under the programme. Moderna will recognize the funding as a reduction in research and development expenses and will retain full rights and control of the flu programme.

“Moderna has demonstrated a remarkable ability to impact human health through mRNA vaccines targeting respiratory illnesses,” says BXLS global head Nicholas Galakatos. “This landmark collaboration is another example of our long-standing strategy to partner with the world’s leading life science companies to advance their critical path vaccines, medicines and medical technologies to patients.”

Moderna chief executive officer Stéphane Bancel adds: “Our goal is to launch multiple vaccine products in the next few years and deliver the greatest possible impact to people through mRNA medicines. Achieving this ambition requires substantial investment in late-stage studies and we are excited to welcome Blackstone and their innovative financing model.”

According to BXLS, the new collaboration continues its work and support for many of the world’s leading and most innovative biopharmaceutical and medical technology companies.