So much for the year’s biggest biotech IPO

BioNTech, a privately held company developing messenger RNA therapies, just raised $325 million from investors, a development that suggests its long-rumored IPO isn’t coming anytime soon.

Earlier this year, both Bloomberg and Reuters reported that the Germany company was plotting to raise about $800 million in a public offering that would give it a valuation of more than $4 billion. BioNTech never commented on those reports, and, speaking to reporters after its latest fundraise, the company was evasive on the topic of a future IPO.

BioNTech has now raised about $1.4 billion since its inception, which suggests it won’t be in need of IPO-derived cash any time soon. That said, Moderna Therapeutics, the other mRNA company with a multibillion-dollar valuation, filed to go public about 10 months after raising $500 million in private funding. If BioNTech has a similar plan in mind, biotech’s investment bankers may yet collect those long-rumored IPO fees.