AstraZeneca Increases Stake in U.S. Biotech Firm Moderna Therapeutics
August 10 2016 - 10:55AM
Dow Jones News
LONDON--AstraZeneca PLC (AZN.LN) on Wednesday said it has
increased its equity interest in U.S.-based biotechnology company
Moderna Therapeutics with a $140 million investment.
The U.K.-listed pharmaceutical company now owns a 9% stake in
Moderna after the transaction, which was made as part of Moderna's
preferred-stock financing.
AstraZeneca previously acquired an equity stake in Moderna after
a collaboration agreement, announced in March 2013, to develop
medicines for cardiovascular, metabolic and renal diseases, as well
as oncology. The companies also entered into a further
collaboration agreement in January 2016 to develop and
commercialize cancer medicines.
Shares of AstraZeneca at 1352 GMT were trading 0.6% lower at
5,147 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
August 10, 2016 10:40 ET (14:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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