Moderna Therapeutics, a Cambridge, Massachusetts-based developer of messenger RNA (mRNA) Therapeutics™, a new treatment modality to enable the in vivo production of therapeutic proteins, completed a $110m financing.
To date, Moderna has secured more than $415m from the pharmaceutical and government sectors, as well as from private investors led by founding investor Flagship Ventures.
The company plans to use the funds to develop and commercialize its drugs for rare diseases and oncology.
Led by Stephane Bancel, president and founding CEO and emerged from stealth mode in December 2012, Moderna is developing messenger RNA Therapeutics™, a new in vivo drug modality that produces human proteins or antibodies inside patient cells, which are in turn active intracellularly or secreted.
The company also completed a pre-clinical partnership with AstraZeneca, which made an upfront payment of $240m for the right to 40 drug options in cardiovascular, metabolic diseases and oncology.
06/12/2012: Moderna Therapeutics Closes over $40M in Financing