Moderna Therapeutics raised USD110 million in a recent financing round. The new capital will be used to develop the firm's messenger ribonucleic (RNA) technology. This was according to a report published by Pharmaceutical Business Review.
To date, the US-based drug company has raised over USD415 million in funding. Pharmaceutical, state-run, and private firms helped raise funds for Moderna. This latest round was led by Flagship Ventures, the company's founding investor.
RNA Therapeutics is a platform that uses the genetic basis of a disease to come up with an effective treatment. RNA-based compounds are formulated to target said diseases. This explanation was derived from Sarepta Therapeutics.
Stephane Bancel, the president and founding Chief Executive Officer of Moderna, expressed her enthusiasm over the financial support from investors. bancel said, "The significant support we have received from our investor base and partners will enable us to strike the right balance between urgency and care to build a durable scientific platform and propel the field forward, without the short-term distractions that can side-track a young public company from its mission."
Join the Conversation