AZ invests $140M in Moderna

AstraZeneca plc (LSE:AZN; NYSE:AZN) said it invested $140 million in Moderna Therapeutics Inc. (Cambridge, Mass.) via a preferred stock financing, bringing its stake in the mRNA therapeutics company to about 9%.

AZ and Moderna began a five-year deal in 2013 to discover, develop and commercialize mRNA therapeutics for cancer, cardiovascular, metabolic and renal diseases. The pharma acquired an equity stake of undisclosed size in Moderna at that time. Last month, AZ filed a clinical trial application to start a Phase I study of AZD8601, an mRNA therapy that encodes VEGF-A for cardiometabolic diseases. It would be the partners' first joint program to reach the clinic (see BioCentury Extra, July 26). ...