RCS - Moderna Inc - Moderna Finalizes Agreement with Kenyan Government

ModernaAnnouncement

30/03/2023 12:00

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RNS Number : 7672U  Moderna Inc  30 March 2023

Moderna Finalizes Agreement with the Government of the Republic of Kenya to
Establish an mRNA Manufacturing Facility

Facility to enable access to manufactured mRNA vaccines for Kenya and the
African continent, providing health security and building upon Moderna's
global public health commitments

The facility will be capable of producing up to 500 million doses each year

CAMBRIDGE, MA & NAIROBI, KENYA/ ACCESSWIRE / March 30, 2023 / Moderna,
Inc.
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.modernatx.com&esheet=52432234&newsitemid=20210519005526&lan=en-US&anchor=Moderna%2C+Inc.&index=1&md5=e438830380191d62326ccd34e20be4f7)
(NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA)
therapeutics and vaccines, and the Government of the Republic of Kenya have
finalized an agreement to establish an mRNA manufacturing facility in the
Republic of Kenya. This will be the Company's first mRNA manufacturing
facility in Africa.

In partnership with the Government of the Republic of Kenya, Moderna will
build a state-of-the-art mRNA facility in Kenya to produce up to 500 million
doses of vaccines each year. The Company expects the new facility to enable
drug substance and drug product manufacturing for Kenya and the African
continent. In addition, this facility will have surge capacity to rapidly
scale and respond to public health emergencies on the continent and around the
world.

"The finalization of our agreement with the Government of the Republic of
Kenya is a key pillar of our global public health strategy, where we hope to
bring mRNA innovation to the people of Africa in areas of high unmet need,
such as acute respiratory infections, as well as persistent infectious
diseases like HIV and outbreak threats such as Zika and Ebola," said Stéphane
Bancel, Chief Executive Officer of Moderna. "This also demonstrates our
confidence in the investment climate in Kenya and the importance of utilizing
mRNA technology to build resilience in healthcare security in Africa. We are
also grateful for the leadership of the U.S. Ambassador to Kenya, Meg Whitman,
and Samantha Power, in her role as Administrator of the United States Agency
for International Development for their instrumental support of this project."

"We are excited about this milestone that brings to bear our efforts as
Government to sustain our economic model of facilitating investments that
serve not only Kenya but the African continent. My Government commits to
supporting this investment as a critical signal to the investment community
that Kenya is open for business," said President William Ruto.

"This investment creates the momentum to meet the $10 billion annual target
under the Government's manufacturing 20 by 30 vision, where we plan to grow
the contribution of manufacturing to GDP to 20% by the year 2030 from the
current 7%," said Kenya's Cabinet Secretary for Investments, Trade, and
Industry Hon. Moses Kuria.

The Government of Kenya has championed an accelerated investment agenda to
grow foreign direct investment levels from the current levels of $448 million
annually to $10 billion annually, making the country's goal the continent's
most ambitious agenda to attract investments as an enabler to job creation.
Moderna's investment signifies confidence in the business environment in Kenya
and readiness to support foreign and local investment in the healthcare
sector, as well as Moderna's ongoing commitment to global public health.
Moderna will operate under a Special Economic Zone (SEZ) status, signifying
Kenya's increasing focus on the SEZ program as a key enabler of economic
growth.

With this agreement, Moderna has commitments to establish mRNA manufacturing
facilities in Kenya, the United States, Canada, Australia, and the United
Kingdom, furthering health security around the world. Moderna has spent more
than a decade refining its mRNA platform to accelerate the pace and success of
mRNA medicines. The speed, scale, and flexibility of Moderna's mRNA platform
is uniquely suited for rapid response to serious international epidemics,
commonly referred to as Disease X.( i )

Moderna is committed (https://pr.report/cDrlne-8) to advancing into clinical
studies a portfolio of 15 vaccine programs targeting emerging or neglected
infectious diseases by 2025, advancing vaccines that address current diseases
of significant impact to low- and middle-income countries, and those that
prepare for Disease X. Moderna will prioritize development efforts against
pathogens identified as persistent global health threats, including HIV,
tuberculosis (TB) and malaria, neglected tropical diseases and the priority
pathogens of the World Health Organization and the Coalition for Epidemic
Preparedness Innovations. Learn more at
https://www.modernatx.com/responsibility/our-commitment
(https://pr.report/3yc1bAmh) .

About Moderna

In over 10 years since its inception, Moderna has transformed from a
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 seven modalities, a broad intellectual property portfolio,
and integrated manufacturing facilities that allow for rapid clinical and
commercial production at scale. 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 and approval of one of the earliest and most
effective vaccines against the COVID 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. Moderna has been named a top biopharmaceutical employer by Science
for the past eight years. To learn more, visit www.modernatx.com
(https://pr.report/HKTs8c7b) .

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
statements regarding: the Company's plans to build an mRNA manufacturing
facility in Kenya; the anticipated capacity and output for that facility; the
ability of the facility to respond to public health emergencies; Moderna's
aspiration to develop treatments or vaccines against HIV, Zika, Ebola, and
other public health pathogens; the ability of Moderna's mRNA platform to
respond to future epidemics; foreign investment in the health sector in Kenya;
the advantages of doing business in a Kenyan Special Economic Zone; and
Moderna's plans to establish manufacturing facilities in the United State,
Canada, United Kingdom, and Australia. In some cases, forward-looking
statements can be identified by terminology such as "will," "may," "should,"
"could," "expects," "intends," "plans," "aims," "anticipates," "believes,"
"estimates," "predicts," "potential," "continue," or the negative of these
terms or other comparable terminology, although not all forward-looking
statements contain these words. 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, among others, those risks and
uncertainties described under the heading "Risk Factors" in Moderna's Annual
Report on Form 10-K for the fiscal year ended December 31, 2022 and in
subsequent filings made by Moderna with the U.S. Securities and Exchange
Commission (SEC), which are available on the SEC's website at www.sec.gov
(https://pr.report/nx4aKlIy) . 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 of this press
release.

Moderna Contacts:

Media:

Luke Mircea Willats

Senior Director, Corporate Communications

Luke.Mirceawillats@modernatx.com

Investors:

Lavina Talukdar

Senior Vice President & Head of Investor Relations

617-209-5834

Lavina.Talukdar@modernatx.com

( i ) "Disease X" was named by the WHO to represent the knowledge that a
serious international epidemic could be caused by a pathogen currently unknown
to cause human disease.
https://www.who.int/activities/prioritizing-diseases-for-research-and-development-in-emergency-contexts
(https://pr.report/bLwO3-XS)

SOURCE: Moderna, Inc.

 

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