RARE Daily

Moderna and Metagenomi End Next-Generation In Vivo Gene Editing Collaboration

May 2, 2024

Rare Daily Staff

Moderna and Metagenomi have agreed to terminate their collaboration to develop next-generation, in vivo gene editing therapies.

The decision came as part of a strategic prioritization by Moderna, which remains a Metagenomi shareholder. Moderna has been cutting costs as it contends with a sharp drop in sales of its COVID-19 vaccine.

Metagenomi said Moderna is returning rights to its program on primary hyperoxaluria type 1, as well as other rights granted under the program. In addition to a $40 million upfront payment and royalties, the deal could have provided more than $3 billion in milestones and other payments.

The collaboration, announced in November 2021, brought together Metagenomi’s next-generation CRISPR-based and other novel gene editing systems with Moderna’s mRNA and lipid nanoparticle technologies to accelerate the development of in vivo gene editing therapeutics.

As of December 31, 2023, Metagenomi reported Moderna has provided a total of $49.6 million, not including cost-sharing payments.

“Over the past several years, we have built internal capabilities and expertise required to advance programs to the next phase of development,” said Brian Thomas, founder and CEO of Metagenomi. “In addition to exponential growth in terms of talent and footprint, we have leveraged significant private and public funding to greatly expand our gene editing toolbox, and established in-house manufacturing.”

Shares of Metagenomi fell 16 percent to $5.90 in midday trading following the news.

Photo: Brian Thomas, founder and CEO of Metagenomi

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