Moderna Therapeutics has just applied for the largest IPO for biotech in US history.
Moderna, which is to be listed under the NASDAQ as MRNA, wants to raise a staggering $ 500 million with a public offering. The biotech unicorn has already led to an early valuation of more than $ 7 billion (more than $ 2.6 billion), even though there were no products on the market or much clinical data to hedge its hype.
The latter fact has earned the company continued criticism in industries such as STAT News.
Moderna's IPO offer would be made possible by Morgan Stanley, Goldman Sachs and JPMorgan Chase.
The biotech startup is developing so-called mRNA (messenger RNA) therapies that may be hoped to turn the cells of the body into machines for the production of drugs.
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How Moderna describes his approach in her S-1
In short, this approach is called the "software of life."