Moderna announced a grant of up to $54.3 million from the Coalition for Epidemic Preparedness Innovations (CEPI) to fund the late‑stage development of its experimental H5 bird‑flu vaccine, mRNA‑1018. The funding will support the pivotal Phase 3 trial that is scheduled to begin in early 2026 and will help bring the vaccine to market if it receives licensure.
The grant comes after Moderna’s $760 million contract with the U.S. Department of Health and Human Services was cancelled in May 2025. By securing CEPI’s support, Moderna can continue the program without issuing new equity or taking on additional debt, preserving capital for other pipeline priorities and maintaining shareholder value.
Strategically, mRNA‑1018 is the first mRNA‑based pandemic influenza vaccine to reach a pivotal trial. The partnership aligns with CEPI’s “100‑Days Mission,” which aims to develop a vaccine within 100 days of a new pandemic threat. Moderna also committed to allocating 20 % of its manufacturing capacity for mRNA‑1018 to low‑ and middle‑income countries at affordable prices, addressing global equity concerns during a pandemic.
Moderna’s financial performance has been under pressure, with declining revenue and negative profitability margins in recent quarters. The CEPI grant provides a critical cash infusion that offsets these headwinds, allowing the company to sustain its R&D pipeline and avoid further dilution of its balance sheet. The funding therefore strengthens Moderna’s strategic position in the emerging mRNA vaccine market.
The market reacted positively, with increased trading volume reflecting investor confidence in the company’s pipeline progress and the significance of the CEPI partnership.
Richard Hatchett, CEO of CEPI, said, “Pandemic influenza remains one of the greatest threats to global health security. By partnering with Moderna, we are accelerating vaccine science and enabling equitable access for all.” Stéphane Bancel, CEO of Moderna, added, “We are proud to have CEPI’s support and remain committed to using mRNA technology to address emerging health threats quickly and effectively.”
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