Moderna Prepares For mRNA Drug R&D Blitz With $474m In New Equity
Moderna Therapeutics LLC will go public someday, CEO Stephane Bancel says, but not until the company has human proof-of-concept data for multiple messenger RNA (mRNA) therapeutics – a milestone that Moderna expects to reach with its $474m in new equity financing.
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Newly renamed Flagship Pioneering has raised a $285m venture capital fund to remain invested in portfolio companies as they grow. Also, 12 new and growing biopharma companies raised $657.15m.
In Q3, biopharma financing totaled $7.4 billion, a large proportion of which was by rare disease developers; among the highlights in the $23 billion in M&As was Allergan's buying spree, including two NASH companies. Just over $20 billion went into biopharma alliance dealmaking, and neurology assets attracted many of the dollars.
Having raised a precedent-setting $450m venture capital round in January 2015, Moderna is well on its way to a planned $600m additional fundraising. The privately held company is keeping quiet about what it's doing with all that cash. Tioma, Nutrina and Avelas are among other firms receiving VC financing.