Investors keep faith in $7 billion-valued Moderna
US biotech startup Moderna Therapeutics, a company specializing in messenger RNA (mRNA), has raised $500 million in a fundraising that values the firm at more than $7 billion.
The series G financing, backed by new US and international institutional investors as well as existing supporters, takes Moderna’s cash total to $1.4 billion. The company also has access to a further $250 million in grants from the Bill & Melinda Gates Foundation and several US government agencies, and for now looks likely to keep markets waiting longer for an IPO.
New investors in the round included a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), BB Biotech AG, Julius Baer, Singapore-based EDBI and Sequoia Capital China. Among the existing investors were Fidelity Management & Research Company, Pictet, Viking Global Investors, ArrowMark Partners and Alexandria Venture Investments.
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