US biotechnology company Moderna has inked a strategic cooperation agreement with local authorities in Shanghai as it plans to invest in the Chinese mainland for the first time, with its current mRNA medicines pipelines to be set up in the city’s Minhang District.
During the signing ceremony held Wednesday in Shanghai, the company announced cooperation in biomedical investment, research and development (R&D), production, and commercialisation with the municipal commission of Economy and informatisation and the district government of Minhang.
The company’s first investment project in the country which somewhat is having a precarious relationship with US, will be focusing on the market demands of China. Moderna will set up its mRNA medicines pipelines in Minhang and conduct clinical trials on new medicines, apply for putting its products on the market, and produce and sell them within the country.
Moderna has registered a biotech company branch in Minhang District and established its Chinese headquarters there. It plans to set up several wholly-owned subsidiaries under the Chinese headquarters, which will cover investment management, R&D, sales, production, and so on, and to build a plant in China.
As one of the world’s leading mRNA vaccine developers, Moderna focuses on cancer immunotherapy, including mRNA-based medicine R&D and virus prevention technologies
