Hogan Lovells advises Recordati on its strategic collaboration with Moderna

Press releases | 03 February 2026

Global law firm Hogan Lovells has advised Recordati on its strategic collaboration and license agreement with Moderna to develop and commercialize worldwide mRNA-3927, an investigational product for the treatment of propionic acidemia (PA). Under the terms of the agreement, Moderna will continue to lead the development of mRNA-3927 in collaboration with Recordati, and if approved, Recordati will lead global commercialization.

Under the terms of the agreement, Recordati will pay Moderna an up-front payment of $50 million and up to an additional $110 million in near-term development and regulatory milestone. Moderna is also eligible to receive commercial and sales milestones, as well as tiered royalties on annual net sales. Recordati does not expect any significant impact on its EBITDA prior to a potential launch. The transaction is subject to customary closing conditions, including U.S. antitrust clearance, which is expected within 30 days from the relevant filing.

The multi-jurisdictional and cross-practice Hogan Lovells team that advised Recordati on the transaction was led and coordinated by partners Francesco Stella and Penny Powell and composed, in particular, of associates Bea Watts and James Furneaux of the London office, partner William Intner of the Baltimore office and counsel Anishiya Abrol of the Northern Virginia office.