‘Moderna Inc on Thursday announced a $35 million licensing deal with cancer-focused drug developer CytomX Therapeutics to work on messenger RNA-based therapies for a wide range of diseases.
Shares of California-based CytomX rose more than 50% in extended trading.
The firm will get $5 million in prepaid research funding as part of the upfront payment and it is eligible for up to about $1.2 billion in future milestone payments, the companies said in a joint statement.
The news comes a month after an experimental cancer vaccine from Moderna based on mRNA technology was shown to work against a type of skin cancer.’
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