Pfizer Inc has signed three deals to broaden the use of the messenger RNA technology (mRNA) that its COVID-19 vaccine was based on, including a pact worth as much as $1.35 billion with gene-editing specialist Beam Therapeutics.
The pharmaceutical giant has been looking to advance the development of mRNA-based vaccines and therapeutics after it led global efforts develop a shot against the COVID-19 pandemic.
It said on Monday it would pay Beam $300 million upfront to do research on three new therapy targets outside the gene-editing company's existing programs.
The US drugmaker will be responsible for development and regulatory activities for the targets, with the option to opt in on exclusive, worldwide licenses for each.
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Beam, whose shares were 8% higher in premarket trading, went public in February 2020 and uses gene-editing technology to develop treatments for rare genetic diseases.
Pfizer will also collaborate with Codex DNA Inc for an undisclosed sum to leverage the biotech's proprietary technology, which could enable more efficient development of mRNA-based vaccines, therapeutics and other biopharma products.
Its collaboration with private biotech Acuitas Therapeutics will focus on the use of the Vancouver-based company's lipid nanoparticle (LNP) technology for developing up to ten vaccines or therapeutics.
The financial details of the deal were not disclosed.
Acuitas' technology is also used in Pfizer and its German partner BioNTech's COVID-19 vaccine.
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