Additional Relevant Details
Under the terms of the collaboration, Vertex and Moderna will conduct exclusive research, development and commercialization activities to advance mRNA Therapeutics that aim to enable cells of people with CF to produce functional CFTR proteins in the lungs. Moderna will lead discovery efforts, leveraging its leading mRNA platform technology and mRNA delivery expertise along with Vertex's scientific experience in CF biology and the functional understanding of CFTR, as well as the company's proprietary assay platform that utilizes human bronchial epithelial (HBE) cells of multiple different CF gene mutations from people with CF. Vertex will lead all preclinical, development and commercialization activities associated with the advancement of mRNA Therapeutics that result from this collaboration and will fund all expenses related to the collaboration.Vertex will pay Moderna $20 million in cash as part of its upfront commitment to the collaboration. Vertex will also make a $20 million investment in Modernain the form of a convertible note that will convert to equity. The investment will provide Vertex with an ownership stake in Moderna. Vertex will also payModerna future development and regulatory milestones of up to $275 million, including $220 million in approval and reimbursement milestones, as well as tiered royalty payments on future sales.