On the hunt for the next Moderna, investors have pumped ‘platform plays’ with cash. Can anything slow the runaway train?

It didn’t take an expert to see that mRNA platforms could be huge.

Julie Sunderland partnered with both Moderna and BioNTech about a decade ago while she was running program-related investments for the Bill & Melinda Gates Foundation — and even then the potential for their platforms was obvious despite...

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