Moderna raises $450m; most ever for private biotech
This article was originally published in Scrip
Executive Summary
Moderna Therapeutics raised $450m in what appears to be the largest-ever private equity event for a non-public biotechnology company, which will use the venture capital to develop therapies that deliver messenger RNA (mRNA) designed to produce proteins in the body.
You may also be interested in...
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.
VC Roundup: Moderna Seeks Another Record-Breaking Raise; Arcus Emerges From Stealth Mode
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.
Advaxis Advances Personalized Cancer Vaccines With Eye On Manufacturing Time, Cost
Advaxis is developing – now with help from partner Amgen – a personalized immunotherapy strategy with each patient's cancer vaccine based on their own tumor's specific neoepitopes.