Moderna to set up new subsidiary in Malaysia

KUALA LUMPUR: Biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines Moderna, Inc. today announced plans to establish a new subsidiary in Malaysia, alongside three additional subsidiaries in Taiwan, Singapore, and Hong Kong.

This announcement builds on Moderna's existing presence in the region, with offices in Japan, South Korea, and Australia, and demonstrates the company's continued commitment to the Asia-Pacific region as an essential part of its long-term strategy and commercial vision.

"We are delighted to announce a future subsidiary to help deliver mRNA solutions to the people of Malaysia,"said Stephane Bancel, chief executive officer of Moderna in a statement here, today.

"Malaysia is a growing player in the pharmaceutical and biotech industry, and we look forward to exploring opportunities for local collaboration as Moderna expands its footprint in the Asia-Pacific region. I am excited to build strong teams that can deliver on the potential this region and our mRNA platform has to offer."

Moderna's plan to establish a local subsidiary reflects its confidence in the current growth trajectory of Malaysia's pharmaceutical and healthcare industries.

The company is further encouraged by the local government's commitment to biotech research and development. It is actively recruiting a team to build a strong presence in the market as its mRNA therapeutics pipeline grows, he said.

Moderna's broader pipeline currently includes 40 development programmes, of which 25 are in clinical trials. The company continues to update its COVID-19 strategy to address variants of concern such as Omicron and pioneer new vaccines and therapeutics for a range of diseases and conditions.

It is 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.

The company has a presence in 12 markets globally. Regulators have approved Moderna's COVID-19 vaccine in more than 70 markets, including at least 19 in the Asia-Pacific region. In August 2021, Malaysia's Ministry of Health granted Moderna's COVID-19 vaccine conditional approval for emergency use.

-- BERNAMA