Stéphane Bancel, Moderna CEO (Christopher Goodney/Bloomberg via Getty Images)

Up­dat­ed: Mod­er­na part­ners with Black­stone on flu shots, nab­bing up to $750M in R&D fund­ing

Mod­er­na an­nounced Wednes­day that it is team­ing up with Black­stone for its in­fluen­za pro­gram.

Un­der the col­lab­o­ra­tion, Black­stone will pro­vide “up to $750 mil­lion,” ac­cord­ing to press re­leas­es, with Black­stone el­i­gi­ble for undis­closed com­mer­cial mile­stones and low sin­gle-dig­it roy­al­ties. It wasn’t im­me­di­ate­ly clear Wednes­day morn­ing how much of the fund­ing would be avail­able to Mod­er­na right away. Shares of the biotech $MR­NA are up 3% pre­mar­ket.

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