AstraZeneca ups its stake in Moderna
AstraZeneca (LSE: AZN) says it has increased its equity interest in USA-based Moderna Therapeutics with a $140 million investment as part of Moderna’s preferred-stock financing.
The Anglo-Swedish pharma major previously acquired an undisclosed 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, involving a $240 million upfront payment to Moderna. AstraZeneca and Moderna also entered into a further collaboration agreement in January 2016, to discover, co-develop and co-commercialize medicine candidates for the treatment of a range of cancers.
As a result of this new 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.
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