Biotech unicorn Moderna raises another $125M from partner Merck

Just three months after raising $500 million from a group of investors, Cambridge-based biotech unicorn Moderna Therapeutics has secured another $125 million from Merck& Co. Inc. under an existing cancer vaccine collaboration. Moderna, which is currently valued at around $7 billion, announced the deal with Merck (NYSE: MRK) on Thursday. Since 2016, the companies have been developing cancer treatments that combine Merck’s blockbuster drug Keytruda with Moderna’s “messenger RNA” vaccines,…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news