Private investment platform Blackstone Life Sciences (NYSE:BX) announced on Wednesday that it has partnered with biopharmaceutical company Moderna Inc (NASDAQ: MRNA) in a development and commercialisation funding agreement, providing up to USD750m for Moderna's influenza program.

Blackstone Life Sciences supports leading biopharmaceutical and medical technology companies, offering tailored financing solutions to drive scientific innovation and deliver essential products to patients.

Under the agreement, Blackstone's funding will support Moderna's flu program, with potential milestones and royalties for Blackstone Life Sciences upon successful product outcomes. Moderna retains full rights and control over its influenza program, recognizing the funding as a reduction in research and development expenses.

With over USD8bn in assets under management, Blackstone Life Sciences specialises in investing across the life cycle of companies within the life science sectors. Through strategic investments and operational expertise, Blackstone aims to bring promising medicines and medical technologies to market, improving patient outcomes.