Moderna registers biotech firm in Shanghai

Moderna MRNA.O has registered a biotech firm in China’s financial hub Shanghai with a capital of USD 100 million, according to Chinese data providers including company database Qichacha.

Vaccine maker Moderna Inc said on Friday, May 26, it was looking for opportunities in China after confirming that it had registered a legal entity in the world’s second largest economy.

Moderna will accelerate its investment in Shanghai and work with Chinese partners on local research, development and production, local media YiCai Global reported last month, citing the chief executive of the U.S. biotech firm.

“We are exploring opportunities to engage in the market and bring the power of Moderna’s mRNA platform to the people of China,” a company spokesperson said in response to a query from Reuters.

CEO Stephane Bancel recently visited Shanghai and expressed Moderna’s intention to increase investment in the city and collaborate with Chinese partners on local research and development, as reported by local media outlet Yicai Global.

Although Moderna had no previous presence in mainland China, it expanded its operations in Asia by opening an office in Hong Kong last year.