Modern(a) medicine(s)

Moderna Therapeutics Inc.'s first target-specific spinout and a second partnership are part of its near-term plan to become the dominant force in the mRNA space by investing heavily in its own platform while externalizing much of the development work.

Moderna spent about $40 million from the time of its launch in the Flagship VentureLabs incubator in 2010 through the end of 2013, according to President and CEO Stephane Bancel...