Dr. Christiana Bardon, MPM Capital Portfolio Manager

CNBC

The ongoing Covid-19 pandemic has made biotech companies the hot new technology sector as investor demand drives record IPOs, a panel of top investors told CNBC on Wednesday.

The biotech sector has drawn a lot of attention over the last two years during the pandemic, primarily because “we generated all the life-saving drugs, vaccines, and therapeutics that literally just saved the world,” Christiana Bardon, a portfolio manager at private equity firm MPM Capital, told CNBC’s Meg Tirrell at the “Delivering Alpha” conference.

Pfizer and Moderna’s highly successful Covid vaccines, for example, were developed in the U.S. in record time and use Messenger RNA, or mRNA, technology, which had never been cleared for use in humans before. More than 370 million of the doses have been administered in the United States, according to the Centers for Disease Control and Prevention.

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