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Moderna to Establish Shanghai Operations; May Invest up to $1 Billion

publication date: Jul 5, 2023

Moderna, the Boston mRNA vaccine company, signed a deal to set up operations in Shanghai that will develop and make mRNA products specifically for China’s market. The company’s CEO, Stéphane Bancel, arrived in Shanghai this morning. Although the company confirmed an agreement has been signed, it did not disclose a monetary value to the new venture, even though multiple outlets said Moderna would invest up to $1 billion to establish a China presence. In May, the company allocated $100 million to open an office in Shanghai’s Minhang district. Moderna, the parent company, is developing a large portfolio of mRNA vaccines for conditions other than COVID, including common infections, HIV and several cancer vaccines. More details....

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