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Moderna Therapeutics has just filed what would be the largest IPO in the biotechnology industry in US history.
Moderna, which would be listed under the NASDAQ mRNA, is seeking $ 500 million in a public offering. The biotech unicorn has already built a huge initial valuation of more than $ 7 billion in private money (raising more than $ 2.6 billion) even though it had no products on the market or a lot of clinical data to safeguard his hype.
This last fact has earned the company sustained criticism from sales outlets such as STAT News.
Moderna's IPO offers would be facilitated by Morgan Stanley, Goldman Sachs and JPMorgan Chase.
The biotechnology startup is developing so-called RNA (messenger RNA) therapies that could potentially, she hopes, turn the cells of the body into drug-making machines.
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Here's how Moderna described its approach in its S-1 Securities & Exchange Commission document:
The mRNA transfers the instructions stored in the DNA to make the necessary proteins for each living cell. Our approach is to use mRNA-based drugs to teach a patient's cells to produce proteins that could prevent, treat or cure disease.
In short, he describes this approach as "the software of life".
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