AbCellera Shares Are Moving Higher On Licensing Pact With Moderna

AbCellera Biologics Inc ABCL has entered into a research collaboration and license agreement with Moderna Inc MRNA for antibodies for mRNA medicines.
The collaboration will leverage AbCellera's AI-powered technology to search and analyze natural immune responses to identify therapeutic antibodies against up to six targets selected by Moderna.
Under the agreement terms, Moderna will have the right to develop and commercialize antibodies resulting from the collaboration.
AbCellera will receive research payments and is eligible to receive from Moderna downstream clinical and commercial milestone payments and royalties on net sales of products.
Recently, AbCellera acquired TetraGenetics Inc, a platform to generate recombinant human ion channels and other transmembrane proteins. Deal terms were not disclosed.
Price Action: ABCL stock is up 9.28% at $19.31, and MRNA stock is down 0.1% at $427 during the premarket session on the last check Wednesday.