AstraZeneca PLC ASTRAZENECA ANNOUNCES INVESTMENT IN MODERNA (8445G)
10 August 2016 - 11:41PM
UK Regulatory
TIDMAZN
RNS Number : 8445G
AstraZeneca PLC
10 August 2016
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(TM), 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
CONTACTS
Media Enquiries
Neil Burrows UK/Global +44 203 749 5637
Vanessa Rhodes UK/Global +44 203 749 5736
Karen Birmingham UK/Global +44 203 749 5634
Rob Skelding UK/Global +44 203 749 5821
Jacob Lund Sweden +46 8 553 260 20
Michele Meixell US +1 302 885 2677
Investor Relations
UK
Thomas Kudsk Larsen +44 203 749 5712
Finance, Fixed Income,
Craig Marks M&A +44 7881 615 764
Nick Stone Respiratory & Autoimmunity +44 203 749 5716
Henry Wheeler Oncology +44 203 749 5797
Christer Gruvris Infection & Neuroscience +44 203 749 5711
US
Cardiovascular & Metabolic
Lindsey Trickett Diseases +1 240 543 7970
Mitchell Chan Oncology +1 240 477 3771
Toll free +1 866 381 7277
Adrian Kemp
Company Secretary
AstraZeneca PLC
-ENDS-
This information is provided by RNS
The company news service from the London Stock Exchange
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