Moderna Therapeutics, a multibillion-dollar biotech startup, is raising $500 million in a round that values the company at $7.5 billion, according to the data provider Pitchbook.

The financing, first reported by Bloomberg, comes as Moderna (MRNA) burns through about $450 million a year in an effort to craft medicines that can transform the body’s cells into drug factories. The company has raised more than $1.5 billion since its inception in 2010, repeatedly putting off a public offering as it worked through setbacks that delayed its most ambitious science.

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  • You continue to be the Sean Hannity of biotech quasi journalism. Spin for the win dude. Maybe you’re right, this whole thing at Moderna is a multibillion dollar scam.. Unfortunately, they are not Theranos, this is not and never was investigative journalism and there is no Pulitzer on the horizon.

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