This announcement contains inside information
10 August 2016 14:35
ASTRAZENECA ANNOUNCES INVESTMENT IN MODERNA
AstraZeneca today announced that it has increased its equity interest in Moderna Therapeutics (Moderna) with a $140 million investment as part of Moderna's preferred-stock financing.
AstraZeneca previously acquired an equity stake in Moderna following a collaboration agreement, announced in March 2013, to develop messenger RNA medicines for the potential treatment of selected areas of cardiovascular, metabolic and renal diseases as well as oncology. AstraZeneca and Moderna also entered into a further collaboration agreement in January 2016, to discover, co-develop and co-commercialise medicine candidates for the treatment of a range of cancers.
As a result of today's investment, AstraZeneca's ownership of Moderna will be approximately 9% on a fully diluted basis. The additional contribution will be recorded as an equity securities investment.
About Moderna Therapeutics
Moderna is a clinical stage pioneer of messenger RNA Therapeutics™, an entirely new in vivo drug technology that produces human proteins, antibodies and entirely novel protein constructs inside patient cells, which are in turn secreted or active intracellularly. This breakthrough platform addresses currently undruggable targets and offers a superior alternative to existing drug modalities for a wide range of diseases and conditions. Moderna is developing and plans to commercialize its innovative mRNA drugs through its own ventures and its strategic relationships with established pharmaceutical and biotech companies. Its current ventures are: Onkaido, focused on oncology, Valera, focused on infectious diseases, Elpidera, focused on rare diseases, and Caperna, focused on personalized cancer vaccines. Cambridge-based Moderna is privately held and currently has strategic agreements with AstraZeneca, Alexion Pharmaceuticals, Merck and Vertex Pharmaceuticals. To learn more, visit www.modernatx.com.
About AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Respiratory & Autoimmunity, Cardiovascular & Metabolic Diseases, and Oncology. The Company is also active in inflammation, infection and neuroscience through numerous collaborations. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
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