Shares of Generation Bio Co. (GBIO) are rising more than 25% Thursday morning after the company announced collaboration with Moderna, Inc. (MRNA) to develop non-viral genetic medicines.
As per the agreement, Generation Bio will receive an upfront payment of $40 million in cash, and a $36 million equity investment at a premium over recent share prices, the company said. Generation Bio is also eligible for milestone payments and royalties.
“This collaboration represents a foundational investment in our platform science, both deepening our pipeline of rare and prevalent liver disease programs beyond hemophilia A and accelerating our work to reach outside of the liver with nucleic acid therapies,” Commented Phillip Samayoa, Chief Strategy Officer of Generation Bio.
GBIO is at $4.87 currently. It has traded in the range of $3.40-$9.59 in the last 1 year.
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