Covid-19 vaccine maker Moderna to set up subsidiary in Singapore as it boosts regional presence

SINGAPORE — Vaccine maker Moderna on Wednesday (Feb 16) announced plans to establish a new subsidiary in Singapore, along with three additional ones in Malaysia, Taiwan and Hong Kong.

In a media release, the United States biotechnology company said it is recruiting a team in Singapore to build a strong presence in the market as the company’s messenger ribonucleic acid (mRNA) therapeutics business grows.

The subsidiary would support the delivery of mRNA vaccines and therapeutics in Singapore, it added.

“The company’s plan to establish a local subsidiary reflects the strategic role of Singapore as a leading biomedical sciences hub. Singapore offers a high number of skilled workers, government support for the sector, and a business-friendly regulatory environment,” it added.

In response to TODAY's queries, Moderna said the roles in Singapore would include regulatory, medical, pricing, government affairs and commercial operations. The spokesperson declined to state how much the firm would invest in the subsidiary. 

Moderna’s vaccine is among the two mRNA Covid-19 vaccines authorised for use in Singapore. Non-mRNA Covid-19 vaccines such as Nuvavoxid and Sinovac-CoronaVac have also been approved for use here.

Moderna said the firm's move on Wednesday builds on its existing presence in the Asia-Pacific region as part of the company’s long-term strategy and vision. It currently has offices in Japan, South Korea and Australia.  

The firm said it has a presence in 12 markets globally and its Covid-19 vaccine has been approved in more than 70 markets, including at least 19 in Asia-Pacific.

Moderna's chief executive Stephane Bancel said: “I am pleased to announce that Moderna will be expanding into Singapore, the biotech epicentre of Asia.

“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.”

Moderna said it currently has 40 development programmes in the pipeline, of which 25 are in clinical trials.

“The company continues to update its Covid-19 strategy to address variants of concern such as Omicron and pioneer new vaccines and therapeutics for a range of diseases and conditions.

“Moderna is developing mRNA medicines to potentially prevent and treat diseases with significant unmet needs across infectious diseases, immuno-oncology, rare and ultra-rare diseases, and autoimmune diseases."

Moderna said last month that it had started a mid-stage study testing a booster shot of its vaccine specifically tailored to the fast-spreading Omicron Covid-19 variant.

The company also reported data showing that neutralising antibodies against the Omicron variant declined six months after a third booster dose of its original vaccine but remained detectable.