AstraZeneca, Moderna Therapeutics to develop drugs using RNA technology
NEW YORK — AstraZeneca will pay $420 million to Moderna Therapeutics in a deal to develop drugs for a variety of diseases using a technology developed by Moderna, AstraZeneca said.
The Anglo-Swedish drug maker said it would partner with Moderna to use the latter's messenger RNA therapeutics technology to develop treatments for cardiovascular, metabolic and kidney disease, as well as cancer. The technology allows the body to produce therapeutic proteins itself, and the companies said it would open up new treatment options for diseases that can't be addressed using existing technologies.
AstraZeneca's payment includes $240 million upfront and $180 in milestone payments. The agreement gives AstraZeneca the option to select up to 40 drug products for clinical development, while Moderna will be entitled to development and commercial milestone payments, as well as royalties.