Moderna signs deal in China to develop mRNA medicines - Reuters
Maddie Meyer

U.S. vaccine maker Moderna (NASDAQ:MRNA) confirmed Wednesday that the company signed a memorandum of understanding and a land collaboration agreement to develop and manufacture messenger-RNA-based medicines for China, Reuters reported.
"Any medicines produced under this agreement will be exclusively for the Chinese people... and will not be exported," a company spokesperson told the news agency via email, without giving details on the size and other specifics of the deal.

Earlier in the day, multiple media outlets in China reported that the Cambridge, Massachusetts-based biotech was expected to sign an agreement with the Shanghai government as early as Wednesday to invest about US$1B in the countryâs commercial capital.
Citing two people familiar with the matter, the South China Morning Post reported that CEO Stephane Bancel has arrived in Shanghai to finalize the agreement under which the funds will be directed at several vaccine development and manufacturing projects.
In March, China cleared its first home-grown mRNA vaccine developed by CSPC Pharmaceutical (OTCPK:CSPCY) (OTCPK:CHJTF) for emergency use against COVID-19.


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