Benzinga | Sep 23, 2021 07:14AM EDT

AstraZeneca Invests In Imperial College's Self-Amplifying RNA Tech

* AstraZeneca Plc (NASDAQ:AZN) struck a deal with a startup for a self-amplifying RNA (saRNA) therapeutics platform developed at Imperial College London.

* Under the deal, VaxEquity could receive up to $195 million in milestones payments, in addition to royalties on approved drugs.

* VaxEquity was founded in 2020 by Imperial vaccinologist Robin Shattock and Morningside Group.

* "This collaboration with VaxEquity adds a promising new platform to our drug discovery toolbox," said Mene Pangalos, EVP, BioPharmaceuticals R&D at AstraZeneca.

* AstraZeneca, under the deal, has the option to collaborate on 26 drug targets and invest in VaxEquity to further the development of the saRNA platform.

* "We believe self-amplifying RNA, once optimized, will allow us to target novel pathways not amenable to traditional drug discovery across our therapy areas of interest," Pangalos added.

* Price Action: AZN stock is up 1.28% at $59.49 during the premarket session on the last check Thursday.