Moderna Inc. MRNA announced Wednesday a collaboration agreement with privately held Life Edit Therapeutics Inc. to discover and develop in vivo gene editing therapies. Moderna’s stock edged up 0.4% in premarket trading. The companies will combine the use of Moderna’s mRNA platform and Life Edit’s gene editing technologies to advance therapies against a select set of therapeutic targets. Under the agreement, the companies will collaborate on research and preclinical studies, funded by Moderna. Once an option for a target is exercised, Moderna will assume responsibility for further development, manufacture and commercialization. Life Edit will receive an undisclosed upfront payment and will be eligible for milestone payments. “Through our collaboration with Life Edit, we hope to harness the power of gene editing technologies as part of our broader research and development engine, helping to advance our mission and deliver on the promise of mRNA,” said Moderna Genomics Chief Scientific Officer Eric Huang. Moderna’s stock has dropped 10.9% over the past three months through Tuesday, while the S&P 500 SPX has slipped 0.2%.
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