India’s billionaire entrepreneur and philanthropist Azim Premji is one of the investors in Moderna.
The investment was made through Premji Invest – the family office of Wipro founder Azim Premji.
Moderna is at the forefront of the COVID-19 vaccine race.
Moderna, the company making waves across the world for its work in the creation of a COVID-19 vaccine, has an Indian connection. India’s billionaire entrepreneur and philanthropist Azim Premji is one of the investors in Moderna, and an early one at that.
Premji Invest, which is the family office of Wipro founder Azim Premji, has been investing since 2006 and has placed its bets across 40 countries. Dhiraj Malkani, a partner at Premji Invest in Boston also recently shared news about their portfolio company Moderna on his LinkedIn page.
An ET report said that Premji Invest invested $25-30 million in the company a few years ago. Premji Invest has also placed its bets on other US-based healthtech companies such as Devoted Health, Iora Health and Grand Rounds.
Moderna is at the forefront of the COVID-19 vaccine race. The NASDAQ-listed company had recently announced positive data from the phase 1 of its vaccine testing in the United States.
“With today’s positive interim Phase 1 data and the positive data in the mouse challenge model, the Moderna team continues to focus on moving as fast as safely possible to start our pivotal Phase 3 study in July and, if successful, file a BLA. We are investing to scale up manufacturing so we can maximize the number of doses we can produce to help protect as many people as we can from SARS-CoV-2,” said Stéphane Bancel, Chief Executive Officer at Moderna in a statement. – Business Insider