Vaccine maker Moderna said on Monday it had struck a deal with Immatics for developing cancer vaccines and therapies and would pay the drug developer $120 million in cash and additional milestone payments.
Moderna said the companies intend to combine Immatics' T-cell redirecting cancer therapies with its mRNA technology.
Immatics will also receive research funding and is eligible to receive development, regulatory, and commercial milestone payments that could exceed $1.7 billion, Moderna said.
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