More padding for Moderna's coffers

Merck & Co. Inc. (NYSE:MRK) partnered with Moderna Therapeutics Inc. (Cambridge, Mass.) to discover and develop mRNA-based vaccines and passive immunity treatments against four undisclosed viruses.

Under the three-year deal, Merck will pay Moderna $50 million up front and make a $50 million equity investment in the biotech in exchange for commercialization rights to five product candidates. Moderna is eligible for undisclosed development and commercialization milestones, plus tiered royalties. ...