CAMBRIDGE, Mass., Oct. 17, 2013 /PRNewswire/ -- Moderna Therapeutics, the pioneering company developing messenger RNA therapeutics™, a revolutionary new treatment modality to enable the in vivo production of therapeutic proteins, announces today the expansion of their headquarters to Technology Square in Cambridge, MA. With the addition of the new space, Moderna will have up to 100 full-time employees at two locations by the end of 2013.
"We are thrilled to expand our presence in Massachusetts, the country's most important hub of biotech innovation, which has been a great source of talent and ideas to Moderna from its earliest days," said Stephane Bancel, president and founding CEO of Moderna. "With this facility, we intend to deliver on the promise of messenger RNA therapeutics™ by developing transformative new medicines for a wide range of diseases, including many that are untreatable today."
The new site will be the center of Moderna's R&D and provide a significant increase in laboratory space for formulation, screening, and both in-vivo and in-vitro studies. The facility houses administrative and corporate needs as well as IT specialists and is equipped with state of the art technology to enable virtual collaboration and cloud-based computing. Moderna's previous Cambridge headquarters will continue to serve as an additional site for manufacturing and quality.
"In Massachusetts we invest in the life sciences because we are choosing to shape our own future," said Governor Deval Patrick. "I congratulate Moderna on their new facility and look forward to the jobs and economic opportunities they will bring."
"On behalf of the team at the Massachusetts Life Sciences Center, congratulations to Moderna on its expansion here in the Commonwealth," said MLSC President & CEO Dr. Susan Windham-Bannister. "We are pleased to have awarded Moderna 2011 and 2012 Tax Incentives tied to their new job creation in Massachusetts and look forward to the great R&D efforts in 'messenger RNA Therapeutics' that will be taking place in this new space."
About Moderna Therapeutics
Moderna is pioneering messenger RNA therapeutics™, an entirely new in vivo drug modality that produces human proteins or antibodies inside patient cells, which are in turn active intracellularly or secreted. This breakthrough platform addresses currently undruggable targets and offers a superior alternative to existing drug modalities for a wide range of disease conditions. Moderna has developed a broad intellectual property estate, including more than 200 patent applications with more than 10,000 claims ranging from novel nucleotide chemistries to specific drug compositions. The company plans to develop and commercialize its innovative mRNA drugs -- initially for rare diseases and oncology -- while partnering drug candidates in other therapeutic areas in order to rapidly deliver this innovation to patients. Moderna is a privately held company based in Cambridge, Massachusetts. Visit www.modernatx.com to learn more.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an investment agency that supports life sciences innovation, research, development and commercialization. The MLSC is charged with implementing a 10-year, $1-billion, state-funded investment initiative. These investments create jobs and support advances that improve health and well-being. The MLSC offers the nation's most comprehensive set of incentives and collaborative programs targeted to the life sciences ecosystem. These programs propel the growth that has made Massachusetts the global leader in life sciences. The MLSC creates new models for collaboration and partners with organizations, both public and private, around the world to promote innovation in the life sciences. For more information, visit www.masslifesciences.com.
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SOURCE Moderna Therapeutics