AstraZeneca doubles down on Moderna, invests $140M in $1.5B-plus biotech
Moderna Therapeutics has had one of the most successful records in biotech for raising money to back discovery-stage R&D work. And now it’s banking $140 million more from AstraZeneca as the biotech steps its way through early clinical stage work.
The investment brings AstraZeneca’s $AZN stake in Moderna to 9% and comes just days after the partners filed a European application to start a Phase I study of AZD8601, an investigational mRNA-based therapy that encodes for vascular endothelial growth factor-A (VEGF-A). AstraZeneca originally signed on as a partner back in 2013, when new CEO Pascal Soriot used it to demonstrate the pharma giant’s zeal for big, risky and potentially revolutionary science projects.
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