Flagship's $3.37bn Fund To Grow First-In-Category Firms
Also Building Preemptive Medicine Division
Flagship, the investor behind COVID-19 success story Moderna, has raised a huge fund that will be used to create and develop its own companies before spinning them off.
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Private Company Edition: Flagship’s Pioneering Medicines initiative and the firm’s portfolio companies will deliver cystic fibrosis drug candidates. Also, recent venture capital financings include cloud technology firm Saama’s $430m round and Shoreline’s $140m in new funding.
Public Company Edition: The pace of US initial public offerings slowed a bit in April and May but could ramp back up in June as biopharma investor sentiment rebounds. Also, drug developers continue to go public via SPAC mergers, most recently Valo Health with a $2.8bn post-deal valuation.
While White House support for an intellectual property waiver has been cheered by access campaigners, Moderna said it won’t help solve the pandemic’s big vaccine production challenges any time soon.