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Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

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Share Price: 11,988.00
Bid: 12,016.00
Ask: 12,020.00
Change: -38.00 (-0.32%)
Spread: 4.00 (0.033%)
Open: 12,070.00
High: 12,144.00
Low: 11,882.00
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AstraZeneca bets another $140 mln on Moderna's "messenger" drugs

Wed, 10th Aug 2016 14:41

LONDON, Aug 10 (Reuters) - AstraZeneca has investedanother $140 million in Moderna Therapeutics, the U.S. biotech"unicorn" which already has a cash pile of around $1 billion andis developing drugs based on a molecule known as messenger RNA.

The British drugmaker said on Wednesday that the newinvestment, part of a preferred-stock financing, lifted itsstake in Moderna to 9 percent. AstraZeneca first invested inModerna in 2013.

Messenger RNA (mRNA) carries the recipe for making proteinsinside the body. Using it as a medicine could offer a new way totackle many hard-to-treat diseases, from cancer to infections toheart and kidney disorders.

In effect mRNA serves as software that can be injected intothe body to instruct ribosomes, the "3D-printers" found insidecells, to churn out the desired proteins.

Moderna's work is still at an early stage. It has two PhaseI studies underway for mRNA-based infectious disease vaccines,and last month Moderna and AstraZeneca filed for approval to runanother Phase I study of a vascular disease treatment.

Moderna also has strategic agreements with AlexionPharmaceuticals, Merck and VertexPharmaceuticals. (Reporting by Ben Hirschler; Editing by Greg Mahlich)

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(Sharecast News) - London's equity markets were still above the waterline at lunchtime on Wednesday, following a late Santa rally on Wall Street overnight.

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