Moderna Terminates Gene Editing Collaboration with Metagenomi, Returns PH1 Program and Related Technologies

May 04, 2024 11:23 CST Updated 11:23

Metagenomi

Gene Technology Researcher

Recently, Moderna has exited the previously reached gene-editing collaboration agreement with Metagenomi, returning the full global rights of the primary hyperoxaluria type 1 project and related technologies (including base editors and RNA-mediated integration systems) to Metagenomi.

Metagenomi stated in a Wednesday announcement that the two companies "mutually agreed" to terminate the agreement, a decision made after Moderna considered it a "strategic priority." However, Moderna will remain a shareholder of Metagenomi.

Moderna and Metagenomi formed a gene-editing partnership in 2021, aiming to combine the former's mRNA platform with the latter's gene-editing expertise to develop in vivo gene-editing therapies.

At the time, the partner did not disclose the specific financial details of the transaction, but subsequent filings with the U.S. Securities and Exchange Commission (SEC) revealed that Metagenomi could potentially earn more than $3 billion from the agreement. As of December 31, 2023, the biotechnology company had received $49.6 million from the partnership.

In February 2024, Metagenomi went public on the Nasdaq Global Select Market, raising nearly $94 million in its initial public offering (IPO). The biotech company's stock plummeted 31% on the second day.Part of the market's concern about Metagenomi's IPO may be due to the fact that the company does not yet have clinical candidates.

Welcome to forward, share, and reasonably cite. When citing, please clearly indicate the source of the article in a prominent position;For reprint, please leave a message or send a message to the WeChat Official Account backend, and indicate the name and ID of the official account.

Disclaimer: The information in this WeChat article is for general reference only and should not be directly used as decision-making content. PharmaCube assumes no responsibility for any loss incurred by any party due to the use of the content herein.