Two biotechs get $100M-plus injections

Two Cambridge biotech companies added more than $100 million to their coffers yesterday, but for every different reasons.

Moderna, a biotech company that developed a way to force specific cells to manufacture drugs on demand, announced it raised $110 million in a new financing round, led by Flagship Ventures.

"We are pleased with the confidence and enthusiasm that our investors continue to demonstrate by providing the resources to advance Moderna's clinical development platform," Stephane Bancel, president and CEO of Moderna, said in a statement.

Bancel, noting Moderna has now raised 
$450 million in total, said the funding will allow it to continue its work without jumping on the recent biotech IPO bandwagon.

Also yesterday, pharmaceutical giant Vertex announced it had sold the royalty rights to Incivo — a hepatitis C drug — to Janssen Pharmaceutica N.V. for $152 million.

Vertex said the sale will allow it to continue to focus on its cystic fibrosis drug.

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