AstraZeneca, Merck & Co and Alexion all scored exits as mRNA therapy developer Moderna floated in the largest biotech IPO of all time.

Moderna, a US-based messenger RNA (mRNA) therapeutics developer backed by pharmaceutical companies AstraZeneca, Merck & Co and Alexion, raised approximately $604m in its initial public offering on Friday. The IPO, the largest ever for a biotech company, consisted of almost 26.3 million shares issued on the Nasdaq Global Select Market priced at $23.00 each, up…

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