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Business
Moderna Receives Major Cash Influx
by Lisa M. Jarvis
November 25, 2013
| A version of this story appeared in
Volume 91, Issue 47
Moderna Therapeutics, a privately held, Cambridge, Mass.-based biotech firm focused on developing messenger RNA therapeutics, has scored another $110 million in financing in a round led by its founding investor, Flagship Ventures. Since emerging from stealth mode a year ago, Moderna has managed to attract deep-pocketed investors, even though it has yet to test a drug on humans. In March, AstraZeneca paid $240 million up front for the option to buy into 40 drug candidates developed at Moderna, and in October, the Defense Advanced Research Projects Agency handed the firm $25 million to find mRNA drugs to treat infectious diseases.
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