U.S. biotech company Moderna to invest in Shanghai

A primary school student gets administered with vaccine against COVID-19 at a vaccination site in east China's Shanghai, Oct. 30, 2021.(Xinhua/Liu Ying)

SHANGHAI, July 5 (Xinhua) -- U.S. biotechnology company Moderna inked a strategic cooperation agreement with local authorities in Shanghai on Wednesday, planning to invest on the Chinese mainland for the first time, with its current mRNA medicines pipelines to be set up in the city's Minhang District.

During the signing ceremony held Wednesday in Shanghai, the company announced cooperation in biomedical investment, research and development (R&D), production, and commercialization with the municipal commission of economy and informatization and the district government of Minhang.

The company's first investment project on the Chinese mainland will center on the market demands of the country. It will set up its mRNA medicines pipelines in Minhang and conduct clinical trials on new medicines, apply for putting its products on the market, and produce and sell them in China.

Moderna has registered a biotech company branch in Minhang District and established its Chinese headquarters there. It plans to set up several wholly-owned subsidiaries under the Chinese headquarters, which will cover investment management, R&D, sales, production, and so on, and to build a plant in China.

As one of the world's leading mRNA vaccine developers, Moderna focuses on cancer immunotherapy, including mRNA-based medicine R&D and virus prevention technologies.