Moderna has entered a licence agreement with Nanexa to add tailored release profiles to its injectable drugs.
According to the contract, Moderna will pay $3m upfront to Nanexa to use the Swedish biotech’s PharmaShell drug delivery platform to develop five compounds.
Neither the mRNA specialist nor Nanexa disclosed which potential five compounds will be involved in the partnership.
Moderna can also use the technology for an additional four compounds. The deal’s entirety sees Nanexa in line for up to $500m in development and commercial milestones, as well as royalties on any products borne out of the partnership that reach market.
PharmaShell works by covering drug microparticles in a protective film coating made of slow-dissolving material. Currently, Nanexa uses aluminium oxide and zinc oxide as non-toxic coatings. As the coating dissolves, the drug is released in a pre-defined manner over time, allowing for tailored release of a therapeutic.
Nanexa CEO David Westberg said: “We are excited to partner with Moderna, a pioneer and leader in the field of mRNA medicines, to explore the potential of our PharmaShell platform and to support the development of improved products for Moderna.
"This agreement underscores the versatility of PharmaShell and its potential to address key challenges in the delivery of advanced biologics.”
One of the key advantages of the formulation is that, in the case of peptides, it allows small injection volumes with very thin needles. NEX-22 project, one of Nanexa’s own projects in a Phase I clinical trial, is aiming to be a depot formulation of type 2 diabetes drug liraglutide with a monthly release.
In an interview with Pharmaceutical Technology in October, Westberg said: “As a trend, the market is going towards less frequent dosing and that has become more evident over the years.”
PharmaShell’s ability to enhance drug delivery at a high drug load and low injection volume has already attracted the interest of other big pharma companies. In December 2022, Novo Nordisk signed a licensing deal worth up to Skr63.3m ($6.6m) with the biotech.
In August 2025, an unnamed “major pharmaceutical company” tied a deal with Nanexa to enhance a drug for an undisclosed chronic condition that has less frequent dosing. That drug is currently a big player, with sales exceeding $1bn, according to Nanexa.
Longer lasting injectables, especially in the weight loss arena, are the name of the game in the pharma industry. Last month, Pfizer saw off fierce competition from Novo Nordisk to acquire Metsera, a biotech developing monthly injectables and oral peptides for weight loss.
Meanwhile, Moderna has been winding down some if its mRNA programmes this year. Instead, it will focus on building a large portfolio of seasonal vaccines, along with investing resources into experimental cancer and rare disease therapeutics. Since finding success during the Covid-19 pandemic, revenues for Moderna have slumped, forcing the strategic pivot.
