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Moderna Exercises Option Under Avacta Alliance

Avacta is eligible to receive future milestones and royalties in connection with future product sales

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By: Kristin Brooks

Managing Editor, Contract Pharma

ModernaTX, Inc. has exercised its option to enter an exclusive licensing agreement with Avacta Group plc, with respect to certain Affimers against a potential therapeutic target under the companies’ ongoing research alliance.
 
In 2015, Avacta and Moderna entered a collaboration, license and option agreement under which Moderna was granted exclusive access to Avacta’s Affimer technology for certain collaboration targets and the option to enter into exclusive license agreements on pre-agreed terms to further research, develop and commercialize Affimers selected by Moderna.
 
Avacta is eligible to receive undisclosed payments for future clinical development milestones and royalties in connection with future product sales.
 
Dr. Alastair Smith, Avacta Group chief executive officer, said, “I am delighted to report that Moderna has exercised its option to enter into this exclusive license agreement with respect to certain Affimer molecules that have been generated through our collaboration. This is further strong validation of the potential of the Affimer drug platform to generate differentiated therapeutic molecules for development. We will continue to support Moderna and their development objectives and I look forward to updating the market as and when key development milestones are met.”

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