LONDON (Alliance News) - AstraZeneca PLC on Wednesday said it has increased its interest in Massachusetts-based Moderna Therapeutics Inc with a USD140 million investment, as part of Moderna's preferred stock financing.
AstraZeneca had acquired a stake in Moderna after a collaboration deal in March 2013, to develop messenger ribonucleic acid medicines for potential treatments in the cardiovascular, metabolic and renal diseases, as well as oncology spaces. It entered into a further collaboration deal with Moderna in January for the development and commercialisation of medicine candidates for a range of cancers.
As a result of its investment Wednesday, AstraZeneca's stake in Moderna will be 9%. It did not disclose the number of shares in Moderna it had acquired, nor its stake prior to the latest investment.
Shares in AstraZeneca were down 0.5% at 5,149.00 pence Wednesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Astrazeneca (AZN)