18th May 2015 06:48
LONDON (Alliance News) - Avacta Group PLC on Monday said its Avacta Life Sciences unit has entered into a collaboration, licensing and option agreement with Moderna Therapeutics Inc.
Under the terms of the deal, Moderna will make a USD500,000 upfront payment to Avacta to provide it with access to Avacta's Affimers range. Moderna will also make pre-clinical development milestone payments to Avacta under the deal.
"This agreement represents a significant opportunity for Avacta with tangible, near term revenues from upfront payments and research services, with additional milestone payments and royalties on future sales of therapeutics. It is a transformational deal for Avacta and Affimers, and I am absolutely delighted to be working with Moderna, a leader in this exciting new field of mRNA therapeutics," said Avacta Chief Executive Alastair Smith.
By Sam Unsted; [email protected]; @SamUAtAlliance
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