Flagship Pioneering (FSP) is a life sciences innovation company, with $14 billion in assets under management. It conceives, creates, resources, funds and develops first-in-category life sciences companies to improve human health. FSP begins the innovation process through in-house scientists at Flagship Labs. Promising explorations then become prototype companies (seed stage ProtoCos) under the portfolio and FSP nurtures the ProtoCos through the early (NewCos) to late growth stages (GrowthCos). FSP holds all patent rights on innovations and does not exit investments from its portfolio. Portfolio companies include Moderna, Indigo Agriculture, Inari Agriculture and Novomer.