NASDAQ-LISTED biotechnology company Moderna has announced it will establish a new subsidiary in the Republic as part of its plans to increase its presence in the Asia-Pacific region.
It will also create new subsidiaries in Malaysia, Taiwan and Hong Kong, the Covid-19 vaccine manufacturer said in a press release on Wednesday (Feb 16). It currently has offices in Japan, South Korea and Australia.
Moderna picked Singapore for its role as a "leading biomedical sciences hub" and said the country "offers a high number of skilled workers, government support for the sector, and a business-friendly regulatory environment".
The company added the Singapore subsidiary will allow it to grow its mRNA therapeutics pipeline in the region and it is "actively recruiting a team to build a strong presence in the market".
Moderna's broader pipeline currently includes 40 development programmes, of which 25 are in clinical trials.
It will also continue to update its Covid-19 strategy to address variants like Omicron and create new vaccines and therapeutics for a range of diseases and conditions, the press release added.
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Additionally, the company is developing mRNA medicines to potentially prevent and treat infectious diseases, immuno-oncology, rare and ultra-rare diseases, and autoimmune diseases.
Stephane Bancel, chief executive of Moderna, said: "Like Moderna, the Singapore biopharma industry is witnessing an incredible period of growth. We are excited for Moderna to become part of that journey and to continue to leverage our mRNA platform to help solve health challenges across the Asia-Pacific region."
The Moderna Covid-19 vaccine, also known as Spikevax, is 1 of the 2 mRNA vaccines offered in Singapore's National Vaccination Programme as a primary and booster vaccine, and is authorised by the Health Sciences Authority under the Pandemic Special Access Route.
This article was first published is The Business Times. Permission required for reproduction.