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MOderna Therapeutics, a biotech company valued at more than $ 7 billion, is plotting to raise $ 500 million in what would be the sector's largest-ever initial public offering.
The company, based in Cambridge, Mass., Filed with the Securities and Exchange Commission on Friday in the first step to listing its shares on the Nasdaq.
Moderna has become a most valuable technology that could transform patients' cells into microscopic drug factories. Since its founding in 2010, Moderna has raised more than $ 2.5 trillion through investments and partnerships, and has enjoyed a boom in IPOs.
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Now the firm is ready to sell its shares to the public. Moderna did not disclose how many shares. The company plans to trade under the symbol "MRNA."
Moderna claims its technology can use custom-built strands of messenger RNA, or mRNA, to treat scores of diseases. With mRNA, Moderna claims it can combine the body to produce therapeutic proteins inside the body, an approach the company says could potentially upend the pharmaceutical industry in the process. Moderna believes its pipeline of medications could be as much as $ 37 billion a year in revenue, according to an earlier investor presentation obtained by STAT.
Goal Moderna's ambitious goals in the past. In 2017, safety issues forced the company to abandon its most advanced drug candidate, a treatment for a rare disease, and instead prioritizes the lucrative field of vaccines. And over the past 12 months, the company has consistently had top executives, including the heads of its vaccines, cardiovascular, and rare disease divisions.
Moderna now says it has solved the problems that imperiled its early efforts in mRNA. The company plans to get one year from the next, and it has built a manufacturing plant to produce the best of the world.
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