Moderna Announces Establishment of New Charitable Foundation
July 22 2021 - 4:30PM
Business Wire
Initial up-front endowment of $50 million
Foundation to support charitable organizations
and causes that promote public health, healthcare and educational
opportunities, particularly in underserved populations
Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering
messenger RNA (mRNA) therapeutics and vaccines, today announced it
is establishing a new charitable foundation to promote public
health, healthcare and educational opportunities, particularly in
underserved populations. The Moderna Board of Directors has
approved an initial up-front endowment of $50 million for the
Moderna Charitable Foundation.
“Since Moderna’s founding in 2010, our mission has been about
making a transformative positive impact on human lives through our
medicines. After a decade of pioneering the development of our mRNA
bioplatform, we are humbled to be able to have played such a
critical role in combatting the COVID-19 pandemic globally with our
vaccine,” said Noubar Afeyan, Co-founder and Chairman of Moderna.
“We view Moderna’s work as only just beginning. On behalf of our
growing team, partners and shareholders, we are determined to
extend Moderna’s societal impact through the formation of the
Moderna Charitable Foundation. Having experienced the positive
impact such charitable foundations can have on those in need, I
look forward to the contributions that we will make.”
“Moderna is committed to making corporate responsibility a
critical part of who we are and what we do with a sense of
purpose,” said Stéphane Bancel, Chief Executive Officer of Moderna.
“We need to embed that sense of corporate responsibility as we
commercialize the company, to make sure it is part of our DNA, our
culture, forever as we scale. We are passionate about being an
active contributor to the communities where we live and work, as
well as to global communities impacted by COVID-19 and other
diseases. Our recent commitment to provide up to half a billion
doses of our vaccine to lower- and middle-income countries through
COVAX was a key step in this direction. Now, with the establishment
of the Moderna Charitable Foundation, we aspire to make a
continuing positive impact - in the decades to come - as we work
relentlessly to deliver on our mission for patients.”
The Company is establishing the Foundation, which will focus on
charitable, scientific and educational endeavors, with particular
emphasis on advancing scientific education and innovation,
supporting local and global communities, promoting public health
and access to healthcare, and advocating for inclusion and
diversity. The Company is applying to the U.S. Internal Revenue
Service for designation of the Foundation as a 501(c)(3). Moderna
expects that the Foundation will commence operations once 501(c)(3)
status is approved and anticipates providing further information
about the Foundation’s activities at that time.
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 15 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 establishment
of a charitable foundation, the areas of focus for that foundation,
and plans to apply for 501(c)(3) status for the foundation from the
Internal Revenue Service. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210722005905/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
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