(Reuters) – Vaccine maker Moderna said on Monday it had struck a deal with Immatics for developing cancer vaccines and therapies and would pay the drug developer $120 million in cash and additional milestone payments.
Moderna said the companies intend to combine Immatics’ T-cell redirecting cancer therapies with its mRNA technology.
Immatics will also receive research funding and is eligible to receive development, regulatory, and commercial milestone payments that could exceed $1.7 billion, Moderna said.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shounak Dasgupta and Anil D’Silva)
