Moderna raises cash, invests in manufacturing | Chemical & Engineering News
Volume 94 Issue 36 | p. 15 | Concentrates
Issue Date: September 12, 2016

Moderna raises cash, invests in manufacturing

Department: Business
Keywords: finance, biotech, mRNA

The mRNA drug developer Moderna Therapeutics has closed yet another gargantuan round of funding. The $474 million in equity financing brings its total cash on hand to $1.4 billion. The money will be used to invest in its mRNA technology and support its growing clinical pipeline—two studies have begun and two more are near. Moderna also plans to build a $100 million manufacturing facility outside Boston to support the clinical trials. The biotech says it will unveil more details this fall.

 
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ISSN 0009-2347
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