Moderna to Pay Immatics Up to $1.8 Billion in Cancer-Drug Deal

Moderna Inc. agreed to pay German biotechnology company Immatics NV as much as $1.8 billion in a broad-ranging, multiyear collaboration on developing cancer therapies using messenger RNA and other technologies.

Moderna will pay Immatics $120 million upfront and up to $1.7 billion if the work hits certain goals, according to a statement Monday. The companies will collaborate on a variety of products, including antibodies produced through mRNA, cancer vaccines and cell-therapy products, most of which have yet to be tested in people.

Moderna has been seeking new ways to deploy its mRNA technology that quickly generated effective vaccines against the ...