Moderna Reaffirms Commitment to Job Creation in Massachusetts
June 18 2021 - 7:01AM
Business Wire
Company recently announced expansion of the
Moderna Technology Center in Norwood, MA
Company has nearly doubled the size of its
workforce since March 31, 2020 and continues to grow
Company commits to hiring at least 155 new
Massachusetts-based employees for high-tech manufacturing positions
in 2021 and retaining through 2025
Moderna, Inc., (Nasdaq: MRNA) a biotechnology company pioneering
messenger RNA (mRNA) therapeutics and vaccines, today reaffirmed
its commitment to job creation in Massachusetts. Over the last
year, Moderna nearly doubled the size of its workforce, from
approximately 830 employees as of March 31, 2020 to approximately
1,500 employees as of March 31, 2021. In the last year, Moderna
created more than 650 new jobs at its manufacturing facility in
Norwood, Massachusetts. The Company continues to expand in Norwood
and Cambridge.
On June 15, Moderna was awarded a tax incentive from the
Massachusetts Life Sciences Center (MLSC) based on its commitment
to hire 155 new full-time equivalent employees in 2021 and
retaining that headcount through 2025. The MLSC Tax Incentive
Program awards companies engaged in life science research and
development, commercialization and manufacturing with the goal of
creating new, long-term jobs in the state of Massachusetts.
“I would like to thank the Massachusetts Life Sciences Center
and the Baker-Polito Administration for this recognition of our
commitment to creating new, high-tech employment opportunities in
Massachusetts. We have been based in the Commonwealth since our
founding more than 10 years ago and we opened our manufacturing
facility in Norwood in 2018. This facility has been integral to our
long-term strategy and helped anchor our manufacturing capacity as
we worked relentlessly to combat the COVID-19 pandemic,” said
Stéphane Bancel, Chief Executive Officer of Moderna. “Massachusetts
continues to be the global leader in the biotech industry and
having our manufacturing facility in Norwood has enabled close
collaboration with our research and development teams in Cambridge.
It’s also allowed us to work with state and local partners and to
leverage the incredible innovation and diverse talent from the
Massachusetts life sciences and technology sectors. We are proud to
create new biotech and manufacturing jobs in Massachusetts as we
work to develop new mRNA medicines.”
Moderna recently announced an expansion of the Moderna
Technology Center in Norwood, including more than doubling of space
to transform the facility from a production and lab space to an
industrial technology center. This expansion includes increasing
the Company’s production and lab space from approximately 300,000
square feet to approximately 650,000 square feet through renovation
of existing space and entering into a long-term lease of a 240,000
square foot building located on the same campus for expansion of
its commercial and clinical activities. The expansion also includes
an increase in Moderna’s technical development capacity and
preclinical production capability.
The Company’s expansion in Norwood will support a 50% increase
in production of the Moderna COVID-19 Vaccine from its
manufacturing site, which is expected to ramp up in late 2021 and
early 2022. On April 29, Moderna announced an investment at its
owned and partnered manufacturing facilities that it expects will
increase 2022 global capacity to up to 3 billion doses of its
COVID-19 vaccine, depending upon the mix between the authorized
Moderna COVID-19 Vaccine at the 100 μg dose level and potentially
lower doses of the Company’s variant booster candidates and
pediatric vaccines, if authorized.
Moderna opened its Norwood manufacturing site in July 2018.
Digital technology is integrated throughout the site—the entire
research, development and production process incorporates advanced
robotics, machine learning, artificial intelligence and creative
design. Designed to Current Good Manufacturing Practices (cGMP),
this expansion gives the Company the capacity and flexibility to
support the manufacture of the Company’s commercial COVID-19
vaccine and the other programs in Moderna’s clinical development
pipeline. In addition, the site was built with attention to
environmental sustainability and to qualify for LEED
certification.
About Moderna
In 10 years since its inception, Moderna has transformed from a
science research-stage company advancing programs in the field of
messenger RNA (mRNA), to an enterprise with a diverse clinical
portfolio of vaccines and therapeutics across six modalities, a
broad intellectual property portfolio in areas including mRNA and
lipid nanoparticle formulation, and an integrated manufacturing
plant that allows for both clinical and commercial production at
scale and at unprecedented speed. Moderna maintains alliances with
a broad range of domestic and overseas government and commercial
collaborators, which has allowed for the pursuit of both
groundbreaking science and rapid scaling of manufacturing. Most
recently, Moderna’s capabilities have come together to allow the
authorized use of one of the earliest and most-effective vaccines
against the COVID-19 pandemic.
Moderna’s mRNA platform builds on continuous advances in basic
and applied mRNA science, delivery technology and manufacturing,
and has allowed the development of therapeutics and vaccines for
infectious diseases, immuno-oncology, rare diseases, cardiovascular
diseases and auto-immune diseases. Today, 24 development programs
are underway across these therapeutic areas, with 14 programs
having entered the clinic. Moderna has been named a top
biopharmaceutical employer by Science for the past six years. To
learn more, visit www.modernatx.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including regarding: the Company’s development of
a vaccine to protect against the SARS-CoV-2 virus (mRNA-1273, also
referred to as the Moderna COVID-19 Vaccine); anticipated
production of the Moderna COVID-19 Vaccine in 2021 and 2022; and
the Company’s hiring and employment plans within the state of
Massachusetts. The forward-looking statements in this press release
are neither promises nor guarantees, and you should not place undue
reliance on these forward-looking statements because they involve
known and unknown risks, uncertainties, and other factors, many of
which are beyond Moderna’s control and which could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. These risks, uncertainties, and
other factors include those other risks and uncertainties described
under the heading “Risk Factors” in Moderna’s most recent Annual
Report on Form 10-K filed with the U.S. Securities and Exchange
Commission (SEC) and in subsequent filings made by Moderna with the
SEC, which are available on the SEC’s website at www.sec.gov.
Except as required by law, Moderna disclaims any intention or
responsibility for updating or revising any forward-looking
statements contained in this press release in the event of new
information, future developments or otherwise. These
forward-looking statements are based on Moderna’s current
expectations and speak only as of the date hereof.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210618005273/en/
Media: Colleen Hussey Director, Corporate Communications
617-335-1374 Colleen.Hussey@modernatx.com
Investors: Lavina Talukdar Senior Vice President &
Head of Investor Relations 617-209-5834
Lavina.Talukdar@modernatx.com
Moderna (NASDAQ:MRNA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Moderna (NASDAQ:MRNA)
Historical Stock Chart
From Apr 2023 to Apr 2024