Moderna and Chiesi Group Establish Collaboration to Discover and Develop mRNA Therapeutics for Pulmonary Arterial Hypertension (PAH)

Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients and Chiesi Farmaceutici S.p.A., an international research-focused healthcare group (Chiesi Group), today announced a collaboration aimed at the discovery and development of mRNA therapeutics for the treatment of pulmonary arterial hypertension (PAH), a rare disease with an incidence of 2-5 per million adults¹. PAH is a progressive disorder characterized by high blood pressure in the arteries of the lungs with concomitant right heart failure². There is an unmet medical need for novel treatments that could delay, or reverse, the disease progression in patients.

Under the terms of the agreement, Moderna will lead discovery efforts, leveraging its leading mRNA technology and delivery platforms along with Chiesi’s expertise in the field of PAH biology. Chiesi Group will lead development and worldwide commercialization activities and will fund all expenses related to the collaboration. Moderna will receive $25 million upfront and is eligible for more than $400 million in development, regulatory, and commercial milestones, as well as tiered double-digit royalties on net sales.

“We are excited to begin this collaboration with Chiesi Group, which provides the opportunity to further leverage our mRNA and delivery technology,” said Stephen Hoge, M.D., President of Moderna. “This new relationship continues our commitment to partner with companies that have unique expertise in serious diseases, and who share our vision of using mRNA therapeutics to address the unmet needs of patients.”

“Chiesi Group is at the forefront of innovation and discovery of novel therapies for people affected by diseases with high unmet medical need,” said Ugo Di Francesco, Chief Executive Officer of Chiesi Group. “The agreement with Moderna, a leader in mRNA science and delivery, confirms our commitment to better serve patients and healthcare professionals with transformative solutions.”

About Moderna

Moderna is advancing messenger RNA (mRNA) science to create a new class of transformative medicines for patients. mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane or secreted proteins that can have a therapeutic or preventive benefit and have the potential to address a broad spectrum of diseases. Moderna’s platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, providing the Company the capability to pursue in parallel a robust pipeline of new development candidates. Moderna is developing therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and autoimmune and inflammatory diseases, independently and with strategic collaborators.