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Moderna Therapeutics, a biotech company valued at more than $7 billion, is plotting to raise $500 million in what would be the sector’s largest-ever initial public offering.

The company, based in Cambridge, Mass., filed with the Securities and Exchange Commission on Friday in the first step toward listing its shares on the Nasdaq.


Moderna became biotech’s most valuable private startup on the promise of crafting therapies that could transform patients’ cells into microscopic drug factories. Since its founding in 2010, Moderna has raised more than $2.5 billion through investments and partnerships, choosing to stay private while the biotech industry experienced an unprecedented boom in IPOs.

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