Moderna registers biotech unit in China with $100M investment
Maddie Meyer

COVID-19 vaccine maker Moderna (NASDAQ:MRNA) is said to have established a unit in Shanghai, China, this week at an initial capital of $100M as the biotech looks for opportunities in the world's second-largest economy.
Moderna (China) Biotech Ltd was registered on May 24 in the Chinese financial hub, Reuters reported Friday, citing local data providers, including the company database Qichacha.

"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 question from the news agency.
Cambridge, Massachusetts-based Moderna (MRNA) previously had no business presence in mainland China though it opened an office in Hong Kong last year as part of a pivot to Asia.
The registration of Moderna's (MRNA) Chinese unit comes days after respiratory disease specialist Zhong Nanshan, the public face of China's fight against COVID, warned about a potential resurgence of the virus in June. 


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