TECH - Investor That Backed Moderna Raises $3.6B For AI-driven Biotech Ventures | Benzinga
In a recent development, Flagship Pioneering, the venture capital firm known for backing Moderna (NASDAQ:MRNA) has successfully secured a whopping $3.6 billion in funding.
What Happened: Flagship Pioneering has raised $2.6 billion for its eighth fund and an additional $1 billion for parallel funds. These parallel funds will be invested in specific sectors such as diagnostics or therapeutics. The venture firm is also planning to raise more funds for its eighth fund later this year. The funds are intended to launch a series of new biotech companies that will harness the power of generative artificial intelligence for drug discovery, The Financial Times reported on Wednesday.
Noubar Afeyan, the founder ...