- CytomX Therapeutics ( NASDAQ: CTMX ) and Moderna ( NASDAQ: MRNA ) have entered into a collaboration and licensing agreement to create mRNA-based therapies using their technologies.
- The collaboration will combine Moderna's ( MRNA ) mRNA technology with CTMX's Probody platform to develop therapies for oncology and non-oncology conditions, the companies said in a statement on Thursday.
- As per the agreement, CTMX will get an upfront payment of $35M, including $5M of pre-paid research funding.
- CTMX is eligible to get up to about $1.2B in future development, regulatory and commercial milestone payments.
- Shares of CytomX ( CTMX ) jumped more than 30% after hours.
- "Moderna and CytomX will collaborate on discovery and pre-clinical development and Moderna will lead clinical development and commercialization of therapeutics resulting from the agreement," the companies said.
- The agreement also provides MRNA with an option to take part in any future equity financing by CTMX.
- Moderna ( MRNA ) shares earlier closed -2.2% at $173.51.
For further details see:
CytomX shares soar +30% on collaboration with Moderna to make mRNA-based therapies