Moderna Inks Deal with AbCellera to Develop Therapeutic Antibodies for mRNA Medicines

Vancouver-based AbCellera Biologics Inc. announced that it has entered into a multi-year, multi-target research collaboration and license agreement with Moderna. The partnership intends to use AbCellera’s AI-powered technology to develop antibody therapies against up to six targets selected by Moderna.

The financial details weren’t revealed, but as per the terms, Moderna will have the right to develop and commercialize antibodies that result from this partnership. AbCellera, on the other hand, will receive research payments and is also eligible to receive milestone payments and royalties on net sales of the products.

“Over the past year, Moderna has demonstrated the speed and impact of its mRNA vaccine technology in helping to protect people around the world,” said Carl Hansen, Ph.D., CEO, and President of AbCellera. “We are excited to work alongside their team to advance RNA-encoded antibodies as a new frontier in genetic medicines.”

Progress During the COVID-19 Pandemic

Both AbCellera and Moderna had gained immense popularity during the COVID-19 pandemic.

In March 2020, AbCellera partnered with pharma giant Eli Lilly to codevelop antibody therapies against COVID-19. Within three months, the duo developed a monoclonal antibody after isolating it from a recovered COVID-19 patient.

The investigational antibody—Ly-COV555 (Bamlanivimab) received the FDA’s emergency use authorization by November and has since generated billions in revenue. Making $871 million in revenues for Eli Lilly in the last quarter of 2020 alone, the antibody was projected to bring in $1-$2 billion this year. In December 2020, AbCellera raised $555 million, becoming the biggest-ever initial public offering by a Canadian biotechnology company.

During the same time, Moderna developed one of the two mRNA vaccines against COVID-19 that bagged the FDA’s nod. The Massachusetts-based biotech was founded in 2010 and has since pioneered a class of medicines based on mRNA. Yet, the company shot to fame after the entry of its COVID-19 vaccine, rapidly pushing its stock price from just $20 in early 2020 to close to $500 currently.

With Moderna’s market performance validating the potential of its proprietary mRNA technology, AbCellera will be hoping to replicate that success towards advancing multiple therapeutics via this collaboration.

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Author

Rajaneesh K. Gopinath