Moderna Therapeutics receives record $450M investment

CAMBRIDGE – Moderna Therapeutics has announced another record venture capital investment: $450 million.
The Boston Business Journal reported on Monday that the latest funding represents the largest VC investment in biotech ever, and brings the total raised by the company to $950 million.
The newspaper reported that the money will be used for continued development of its drugs based on messenger RNA. It also will allow the company to hire more than 100 new employees. Approximately 145 employees already work at the Cambridge-based company.
The Journal said this represents the largest VC investment in biotechnology to date, and nearly doubles a $274 million round by Reliant Pharmaceuticals Inc. in 2003.
The funding is from Viking Global Investors LP, Invus, RA Capital Management and Wellington Management Co., all new investors, as well as existing investors AstraZeneca and Alexion Pharmaceuticals, the Journal said.

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