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Business
Moderna wins big Merck investment
by Michael McCoy
July 4, 2016
| A version of this story appeared in
Volume 94, Issue 27
Merck & Co. is paying Moderna Therapeutics $200 million in a deal to develop personalized cancer vaccines based on Moderna’s mRNA vaccine technology and Merck’s Keytruda anti-PD-1 cancer therapy. Moderna will use the money to lead the R&D effort and to help build a vaccine manufacturing facility in the Boston area. Moderna made news last year when it raised $450 million in the largest-ever biotech fund-raising. It struck an initial deal with Merck soon thereafter.
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