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Business

Moderna raises cash, invests in manufacturing

by Lisa M. Jarvis
September 12, 2016 | A version of this story appeared in Volume 94, Issue 36
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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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