$2.2 billion boost for Moderna backer Flagship Pioneering
Biotech funder and incubator Flagship Pioneering has raised an additional $2.2 billion, augmenting the capital base for its Fund VII, which was reopened in April.
The total capital pool for the fund now stands at $3.4 billion, bringing the company’s total assets under management to $14.1 billion.
In total, Flagship has investments in 41 companies, including leading mRNA vaccine developer Moderna (Nasdaq: MRNA), a fact which has raised the company’s profile considerably given the latter’s tremendous success in developing a coronavirus vaccine.
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