Investor behind Moderna has raised a $ 3.4bn target for biotech
Flagship Pioneering, a subsidiary of Moderna, has established its largest fund as it seeks to create state-of-the-art technology companies.
The $ 3.4bn budget is one of the largest in the oil market and comes at a time when investment flooding in the group, promoted by many early companies running Developing a medical and vaccine supplement for Covid-19.
Noubar Afeyan, founder of the Flagship Foundation, states: “Our growing capital allows us to. . . practicing the technology of technology, manufacturing and growing all at the bottom. “
Flagship VII Fund has $ 2.2bn released from investors this year and $ 1.2bn raised in 2020. The company intends to send money over the next three years.
Instead of looking for pre-existing biotech to fund, the Massachusetts-based team strives to create technologies and create companies in its four walls. Groups are formed around other interesting areas with the aim of making companies the way research is conducted.
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“It’s not about money. . . nothing we do comes from abroad, “Afeyan, who founded Flagship in 2000, told the Financial Times.” It’s committed to improving every aspect of our home production. “
The most famous company in Flagship is Moderna, founded in 2010 with the aim of establishing mRNA therapeutics, and its seat is Afeyan. The vaccine manufacturer has been sold $ Covid jabs in the first three months of the year and its share price has risen more than 1,000 percent since the beginning of 2020.
Afeyan described Flagship’s ideas as “research” and “an unscrupulous attempt to make scientific advances combined with commercial advancement”. He said the development of the vaccine in Moderna began with the question “whether we can use a code molecule or some other type of molecule that can train the body to make any drug we want”.
Flagship has a net worth of $ 14.1bn and has spent $ 4.8bn on its companies over the past four years. Last week its pharmaceutical business Valo Health announced it was going into a joint venture with a specialized pharmaceutical company.
Afeyan said the life sciences company is not focusing on creating environmentally friendly solutions but rather on building a platform where technologies can be used in a variety of diseases. Moderna is currently undergoing a phase 1 test for her expertise in mRNA on HIV and influenza.
Flagship scientists were keenly interested in developing machine tools that could understand the human body at a much more complex and granular level than humans, as well as the medical field before it, said Afeyan.
“The underlying cause of the disease has been exacerbated by the epidemic because there were all the health problems that exacerbated it,” he said. “We think we will see the world in the future where we can help the disease before it appears.”
Flagship has recently grown with the opening of an office in London and has hired Lord Ara Darzi, a former UK health minister, to lead his medical care business.