AstraZeneca PLC Wagers Another $140 Million on Biotech 'Unicorn' Moderna
AstraZeneca has invested another $140 million in Moderna Therapeutics, the U.S. biotech "unicorn" which already has a cash pile of around $1 billion and is developing drugs based on a molecule known as messenger RNA.
The British drugmaker said on Wednesday that the new investment, part of a preferred-stock financing, lifted its stake in Moderna to 9 percent. AstraZeneca first invested in Moderna in 2013.
The British drugmaker said on Wednesday that the new investment, part of a preferred-stock financing, lifted its stake in Moderna to 9 percent. AstraZeneca first invested in Moderna in 2013.