By Denny Jacob

Genetic-medicine company Generation Bio Co. and pharmaceutical company Moderna Inc. on Thursday entered into a strategic collaboration.

The companies said the collaboration aims to expand the application of each company's platform by developing novel nucleic acid therapeutics to accelerate their respective pipelines of non-viral genetic medicines.

Generation Bio would receive a $40 million upfront cash payment and a $36 million equity investment issued at a premium over recent share prices under the terms of the agreement.

Additionally, Moderna acquired an option to license Generation Bio's cell-targeted lipid nanoparticle delivery system and closed-ended DNA technology for two immune cell programs and two liver programs, with an additional option for a third immune cell or liver program, among other aspects of the collaboration.

Moderna shares were up about 1.1%, to $149.77, in premarket trading, while Generation Bio remained halted.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 23, 2023 07:41 ET (11:41 GMT)

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