Wipro’s Azim Premji invested in US based firm Moderna
By MYBRANDBOOK
Wipro founder-chairman Azim Premji has been an investor in Moderna, the US-based biotech company that has emerged a front-runner to make a vaccine to fight the novel coronavirus, according to the familiar sources.
The investment happened via PremjiInvest, his private investment arm which manages billions of dollars in assets and is among the biggest family offices in India.
"PremjiInvest has been consciously looking at firms that work in the area of low-cost immunity, care and delivery. It has invested in five such firms in the US. They have a full-fledged team looking at this area. The investment in Moderna was done by their Boston team, which has a lot of technical expertise in this area," as per news source.
Moderna has raised hopes globally after its experimental vaccine showed signs that it can create an immune system response to fight the coronavirus. Its vaccine works by using messenger RNA or mRNA. Unlike a normal vaccine, RNA vaccines work by introducing an mRNA molecule coded to produce disease-specific antigens.
An early human trial on 45 patients showed that eight people who were injected with the mRNA produced antibodies similar to those in recovered patients. Moderna said the mRNA-1273 was generally safe and well-tolerated.
The company now plans to go ahead with phase 2 and a phase 3 stage. It also announced plans to raise $1.34 Billion through a public stock offering to make and distribute its mRNA-1273 vaccine. Sources said the fund has no plans for a follow on investment.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
QUICK HEAL TECHNOLOGIES PVT. LTD.
SAMSUNG INDIA ELECTRONICS LTD.
DATA SAFEGUARD INDIA PRIVATE LIMITED
BEETEL TELETECH LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
PARTNER SPEAKERS
PSU
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
