Moderna

Coordinates: 42°21′48″N 71°05′28″W / 42.3633°N 71.091°W / 42.3633; -71.091
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42°21′48″N 71°05′28″W / 42.3633°N 71.091°W / 42.3633; -71.091

Moderna, Inc.
Products
RevenueDecrease US$6.848 billion (2023)
Decrease US$−4.24 billion (2023)
Decrease US$−4.71 billion (2023)
Total assetsDecrease US$18.43 billion (2023)
Total equityDecrease US$13.85 billion (2023)
Owners
Number of employees
5,600 (2023)
Websitemodernatx.com
Footnotes / references
[1][2][3]

Moderna, Inc. (/məˈdɜːrnə/ mə-DUR-nə)[4] is a pharmaceutical and biotechnology company based in Cambridge, Massachusetts, that focuses on RNA therapeutics, primarily mRNA vaccines. These vaccines use a copy of a molecule called messenger RNA (mRNA) to carry instructions for proteins to produce an immune response.[5][1] The company's name is derived from the terms "modified", "RNA", and "modern".[6][7][8]

The company's only commercial product is the

myocardial ischemia.[1]

History

Moderna was founded in 2010 by Derrick Rossi, Timothy A. Springer, Kenneth R. Chien, Robert S. Langer, and Noubar Afeyan.[9] Stéphane Bancel, the current CEO, was appointed as CEO in 2011.[6][10] Between 2011 and 2017, Moderna raised $2 billion in venture capital funding.[7][8]

Product development

In 2013, the company formed a partnership with AstraZeneca to develop treatments for cardiovascular, metabolic, and renal diseases, as well as cancer. Moderna also was awarded a $25,000,000 grant by DARPA through a program Autonomous Diagnostics to Enable Prevention and Therapeutics: Prophylactic Options to Environmental and Contagious Threats (ADEPT-PROTECT).[11] Its stated goal was to develop an mRNA vaccine with the capability to suppress a global pandemic within 60 days. In January 2014, the company entered an agreement with Alexion Pharmaceuticals to develop treatments against ten diseases.[12] On January 14, 2014, Moderna announced the creation of its first venture, Onkaido Therapeutics, to focus "exclusively on developing mRNA-based oncology treatments."[13][14] It launched its second venture, Valera, in January 2015, with a focus on "viral, bacterial and parasitic infectious diseases."[15][16] Employees of Valera and Moderna developed an mRNA vaccine candidate against Zika virus infection.[17] Another venture, Elpidera, was announced in May 2015 to continue work on RNA therapies advancing Moderna's work with Alexion.[18][19]

In 2015, the company formed a partnership with Merck & Co. to develop treatments for cancer, and in 2016 the company formed a partnership with Vertex Pharmaceuticals to develop treatments for cystic fibrosis.[10][20][21][22] In January 2016, the Bill & Melinda Gates Foundation committed to provide at least $20 million in grant funding to the company.[1] In 2017, Alexion terminated its partnership with Moderna after safety issues prevented their work from reaching human trials.[23]

In July 2018, the company opened a 200,000 square foot facility in Norwood, Massachusetts for manufacturing, preclinical and clinical work.[24] In December 2018, Moderna became a public company via the largest initial public offering of a biotechnology company in history, raising $621 million by selling 27 million shares at $23 per share.[25][26]

The first mRNA vaccine developed by Moderna was for influenza in 2015, and its first antibody encoded by mRNA was in 2019.[6] In 2023, Moderna acquired OriCiro Genomics, a Japanese manufacturer of genetic engineering tools, in its first acquisition.[27]

In early 2023, the company in collaboration with Merck won breakthrough status from the FDA for its mRNA-4157/V940 drug candidate, a cancer vaccine.[28][29]

In July 2023, the company entered into an agreement with the Chinese government to develop mRNA drugs for exclusive use in China.[30]

COVID-19 vaccine

Main article: Moderna COVID-19 vaccine

From 2020 to 2021, Moderna received $955 million from Operation Warp Speed to accelerate development of its COVID-19 vaccine, with $4.9 billion committed in total for producing 300 million vaccine doses.[31][32]

In March 2020, the

booster.[35]

In April 2022, Moderna announced plans to build a $180 million vaccine factory in Montreal, forming a 10-year partnership with the Government of Canada, Quebec, and McGill University to produce 100 million Spikevax doses annually and expand vaccine research capabilities.[36] The plant is scheduled to supply COVID-19 vaccines in the fall of 2025.[37]

In February 2023, the company agreed to pay $400 million to the National Institutes of Health, Dartmouth College, and Scripps Research to settle a dispute over the rights to a chemical technique that was used in the vaccine.[38]

In April 2023, a court affirmed a decision to cancel a patent by Arbutus Biopharma after a patent dispute with Moderna regarding its COVID-19 vaccine.[39]

Several legal cases between Moderna and Pfizer and BioNTech in various countries, alleging that the Pfizer–BioNTech COVID-19 vaccine violates the patent on Moderna's mRNA vaccine technology, are ongoing.[40]

Financial data

Year Revenue
(mln. US$) 		Net income (loss)
(mln. US$)
2019[1] 60 (514)
2020[1] 803 (747)
2021[1] 18,471 12,202
2022[1] 19,263 8,362
2023[1] 6,848 (4,710)

See also

References

  1. ^ a b c d e f g h i "Moderna, Inc., 2023, Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 23, 2024.
  2. ^ "Moderna, Inc. Schedule 14A 2022 Proxy Statement". U.S. Securities and Exchange Commission. March 9, 2022.
  3. ^ "Key Facts". Moderna.
  4. ^ Moderna (October 23, 2019). mRNA-3704 and Methylmalonic Acidemia (video) – via YouTube.
  5. PMID 33340620
    .
  6. ^ a b c "Moderna, Our story; Our big moments". Moderna, Inc. 2023. Retrieved February 10, 2023.
  7. ^ a b Garde D, Saltzman J (November 10, 2020). "The story of mRNA: How a once-dismissed idea became a leading technology in the Covid vaccine race". Stat. Archived from the original on November 10, 2020.
  8. ^
    S2CID 241466550
    .
  9. Boston Magazine. Archived
    from the original on November 16, 2020.
  10. ^ a b Garde D (September 13, 2016). "Ego, ambition, and turmoil: Inside one of biotech's most secretive startups". Stat. Archived from the original on November 16, 2020.
  11. ^ DARPA's ADEPT-PROTECT program grant information
  12. Boston Globe Media Partners. Archived
    from the original on July 2, 2021. Retrieved June 5, 2023.
  13. ^ "Moderna Launches Onkaido Therapeutics to Focus on the Development of mRNA Therapeutics™ in Oncology with $20 Million Capital Commitment" (Press release). PR Newswire. January 14, 2014. Archived from the original on November 20, 2016.
  14. ISSN 0099-9660. Archived from the original
    on June 5, 2023. Retrieved June 5, 2023.
  15. ^ "Moderna Launches New Venture Valera LLC for Infectious Diseases" (Press release). PR Newswire. January 8, 2015. Archived from the original on November 19, 2016.
  16. ^ "Moderna Launches New Venture Valera LLC for Infectious Diseases". Bionity. January 12, 2015. Archived from the original on June 5, 2023. Retrieved June 5, 2023.
  17. PMID 28222903
    .
  18. ^ "Moderna Launches Third Venture Company Elpidera for Rare Diseases" (Press release). PR Newswire. May 12, 2015. Archived from the original on October 12, 2016.
  19. ^ Tirrell M (May 12, 2015). "The biotech targeting personalized medicine". CNBC. Archived from the original on April 10, 2021. Retrieved June 5, 2023.
  20. ^ Weisman R (March 21, 2013). "Moderna in line for $240m licensing deal". The Boston Globe. Archived from the original on November 16, 2020.
  21. ^ "Moderna: Strategic collaborators". Moderna, Inc. 2023. Retrieved February 11, 2023.
  22. ^ "Vertex and Moderna hammer out $315 million+ deal to treat cystic fibrosis using mRNA technology". BioSpace. July 6, 2016. Retrieved February 11, 2023.
  23. ^ Garde D (July 27, 2017). "Key partner cuts ties with brash biotech startup Moderna, raising big questions about its pipeline". Stat.
  24. ^ DeAngelis A (July 17, 2018). "Moderna's $110M Norwood site built with expansion hopes". American City Business Journals.
  25. ^ Mukherjee S (December 8, 2018). "Moderna Had the Biggest Biotech IPO Ever. Here's What That Says About the Industry's Future". Fortune. Archived from the original on November 16, 2020.
  26. ^ Ramsey L (December 7, 2018). "Moderna just priced the biggest IPO in biotech history, valuing the startup at $7.5 billion". Business Insider. Archived from the original on November 16, 2020.
  27. ^ Schmidt H (January 5, 2023). "Moderna to Buy Japanese Firm OriCiro in Its First-Ever Acquisition". PharmaNews Intelligence.
  28. S2CID 259184146
    .
  29. PMID 36992220
    .
  30. ^ Kuchler H, Mancini DP (July 5, 2023). "US biotech Moderna strikes deal to develop mRNA drugs in China". Financial Times.
  31. ^ Valverde M (November 19, 2020). "How Pfizer's and Moderna's COVID-19 vaccines are tied to Operation Warp Speed". PolitiFact. Retrieved February 12, 2023.
  32. ^ Siddalingaiah SV (March 1, 2021). "Operation Warp Speed Contracts for COVID-19 Vaccines and Ancillary Vaccination Materials". Congressional Research Service, United States Government. Retrieved February 12, 2023.
  33. ^ "Statement from NIH and BARDA on the FDA Emergency Use Authorization of the Moderna COVID-19 Vaccine". National Institutes of Health. December 18, 2020.
  34. S2CID 243212854
    . Retrieved February 12, 2023.
  35. ^ "Moderna COVID-19 vaccines". US Food and Drug Administration. December 15, 2022. Retrieved February 11, 2023.
  36. ^ "Moderna facility in Montreal area expected to produce 100 million vaccine doses by 2024". CBC News. April 29, 2022.
  37. ^ "Moderna will supply COVID-19 vaccines made in Laval by fall 2025". The Gazette.
  38. ^ Mueller B (February 23, 2023). "After Long Delay, Moderna Pays N.I.H. for Covid Vaccine Technique". The New York Times.
  39. ^ Brittain B (April 11, 2023). "Moderna fends off Arbutus appeal in COVID-19 vaccine patent fight". Reuters.
  40. ISSN 0362-4331
    .

External links

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