Moderna secured up to $54.3 million from CEPI to advance its mRNA H5 pandemic influenza candidate (mRNA‑1018) into Phase 3 testing and committed to allocating 20% of production capacity for low‑ and middle‑income countries in the event of approval and a pandemic. The deal follows the U.S. government’s earlier cancellation of BARDA funding. CEPI’s backing restores momentum to Moderna’s H5 program and underscores international interest in mRNA platforms for pandemic preparedness. Moderna previously received over $700 million from BARDA before the contract was cut; the CEPI agreement includes equitable‑access provisions tied to manufacturing capacity. The funding will support late‑stage development while raising policy and manufacturing questions about global vaccine allocation. Public‑private financing choices will shape how mRNA candidates are advanced and distributed for future pandemic threats.