Shanghai, December 25, 2023, The Europe Today: Moderna, a prominent American biotech company, has demonstrated remarkable agility by initiating the construction of its inaugural pharmaceutical plant in China within a mere three months of finalizing an investment agreement with Shanghai.
The expeditious pace of Moderna, often likened to the efficiency of Tesla’s Shanghai Gigafactory, underscores the dynamic business landscape that Shanghai, a key player in the Chinese economic arena, has cultivated. This rapid progress attests to Shanghai’s commitment to refining its business ecosystem and invigorating the momentum of reform and openness.
The pivotal strategic cooperation agreement inked on July 5 between Moderna and the Shanghai Municipal Commission of Economy and Informatization, along with the Minhang district government, signifies a collaborative stride towards fostering innovation and advancing pharmaceutical capabilities within the region.
Distinguished as a premier global developer of mRNA vaccines, Moderna directs its strategic emphasis towards cancer immunotherapy, encompassing research and development of mRNA-based pharmaceuticals and cutting-edge virus prevention technologies. Marking a significant milestone in its expansion, Moderna has successfully secured land for its Research and Development (R&D) and production headquarters project in Shanghai.
Notably, the company received approval for the foundational phase of the facility in October, positioning itself at the forefront of China’s burgeoning biomedical landscape. This ambitious venture represents an unparalleled foreign investment in the country’s biomedical sector, with an estimated capital infusion of 3.6 billion yuan (approximately 507 million U.S. dollars).
Situated across an expansive 18-hectare expanse within the Shanghai Xinzhuang Industry Park in the Minhang District, the project underscores Moderna’s commitment to advancing biomedical innovation on a global scale.