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Moderna Billionaire Set To Score 3,000% Gain On Tiny Biotech

Published by: dailynews
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Noubar Afeyan became a billionaire backing Moderna Inc., the dark horse biotech firm that became a household name due to its lifesaving Covid vaccine. He just added to his fortune after another one of his long-shot bets quintupled in value.

Sigilon Therapeutics Inc. soared 438% to $21.15 Thursday after Eli Lilly agreed to buy the biotech. Funds of Afeyan’s venture capital firm, Flagship Pioneering, own 31.9% of Sigilon, according to the company’s latest proxy filing.

Afeyan could potentially receive an even larger payout if Sigilon hits certain benchmarks. If all the criteria are met, it would boost Lilly’s offer as high as $126.56 per share and bump his firm’s windfall to $101 million.

Read the full story on Bloomberg here.