Moderna Therapeutics, a biotechnology company in Cambridge, Massachusetts, has raised a whopping $ 450 million from investors in the biggest Biotech Private round ever. The investors include Viking Global Investors LP, Invus, RA Capital Management, and Wellington Management Company, LLP, AstraZeneca and Alexion Pharmaceuticals. Other companies that raised large amounts of money in the past years are Inatarcia Therapeutics of Hayward, California ($210 million), Seattle immunotherapy’s startup Juno Therapeutics ($175 million) and Pacific Biosciences ($109 million). But Moderna Therapeutics has beat them all in the money-raising department. In total, it has raised a staggering $950 million, including the money it received as upfront payments from AstraZeneca ($240 million) and Alexion ($100 million) and previous rounds of investment.
The idea behind the company’s technology is that messenger RNA, the chemical messenger that takes the genetic recipes encoded in DNA out of the cell’s nucleus and into another part of the cell where they can be turned into proteins, can themselves be used as drugs.
Figure. Source: http://modernatx.com/
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