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Why Moderna's valuation is at an all-time high

September 12, 2016 7:00 AM UTC

Less than a year after big funds including Fidelity slashed their valuations of Moderna Therapeutics Inc., the firms are buying more of the mRNA therapeutics developer in a stepped-up round.

Last week, Moderna raised $474 million in a venture round with at least 72 participants. These included Fidelity, Wellington and other existing institutional investors, as well as the company's pharma partners and new institutional investors...