Press Release January 06, 2015

Goodwin Procter Represents Moderna Therapeutics in $450 Million Fundraise; Largest Private Biotech Funding on Record

Goodwin attorneys represented Moderna Therapeutics in its recent $450 million round of funding, the largest venture capital investment in biotech ever, according to the Wall Street Journal. Funds will be used to expand and accelerate the company’s mRNA Therapeutics platform across therapeutic areas, as well as add more than 100 industry leaders, drug development experts and scientists to the team. Since the company’s founding in 2011, Moderna has secured more than $950 million in funding through financing activities and strategic transactions.

Moderna pioneers messenger RNA Therapeutics, a new in vivo drug technology that produces human proteins, antibodies and entirely novel protein constructs inside patient cells, which are in turn secreted or active intracellularly. This breakthrough platform addresses currently undruggable targets and offers a superior alternative to existing drug modalities for a wide range of disease conditions. Founded by Flagship VentureLabs, Cambridge-based Moderna is privately held and currently has strategic agreements with AstraZeneca and Alexion Pharmaceuticals.

Goodwin previously advised Moderna on its January 2014 agreement with Alexion, as well as on its March 2013 agreement with AstraZeneca and its November 2013 $110 million funding.

The Goodwin team advising Moderna is led by Stuart Cable and Kingsley Taft with this most recent transaction led by John Mutkoski and Mulon Luo.

More information on the funding and its investors is available in Moderna’s press release. Press coverage included articles in the Wall Street Journal, The New York TimesForbes.com and Boston Business Journal.