Continue reading this on our app for a better experience

Open in App
Home News Medtech

Moderna to establish new subsidiary in Singapore to support delivery of mRNA vaccines and therapeutics

Felicia Tan
Felicia Tan • 2 min read
Moderna to establish new subsidiary in Singapore to support delivery of mRNA vaccines and therapeutics
Further to its announcement, Moderna is actively recruiting a team to build a strong presence in the market.
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

NASDAQ-listed Moderna Inc has announced its plans to establish a new subsidiary in Singapore, along with three other subsidiaries in Malaysia, Taiwan and Hong Kong on Feb 16.

The subsidiaries will build on Moderna’s existing presence in the region with offices in Japan, South Korea and Australia.

The new Singapore subsidiary will support the delivery of mRNA vaccines and therapeutics in the country.

Further to its announcement, Moderna is actively recruiting a team to build a strong presence in the market as its mRNA therapeutics pipeline grows to benefit Singapore and the region.

“The company’s plan to establish a local subsidiary reflects the strategic role of Singapore as a leading biomedical sciences hub. Singapore offers a high number of skilled workers, government support for the sector, and a business-friendly regulatory environment,” says Moderna in a statement on Feb 16.

The company’s broader pipeline currently includes 40 development programmes, of which 25 are in clinical trials.

See also: Biolidics reallocates $670,000 of rights issue proceeds to Biomedics Lab acquisition

It adds that it is continuing to update its Covid-19 strategy to address variants such as Omicron. It is also developing mRNA medicines to potentially prevent and treat diseases with significant unmet needs across infectious diseases, immuno-oncology, rare and ultra-rare diseases, and autoimmune diseases.

“I am pleased to announce that Moderna will be expanding into Singapore, the biotech epicentre of Asia,” says Stéphane Bancel, CEO of Moderna.

“Like Moderna, the Singapore biopharma industry is witnessing an incredible period of growth. We are excited for Moderna to become part of that journey and to continue to leverage our mRNA platform to help solve health challenges across the Asia-Pacific region,” he adds.

See also: Biolidics raises $1.5 million from investor

Shares in Moderna closed US$8.65 higher or 6.07% up at US$151.12.

Photo: Bloomberg

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.