Moderna

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Group.png Moderna  
(Big pharmaWebsiteRdf-entity.pngRdf-icon.png
Moderna.png
Formation2010
Founder• Noubar Afeyan
• Kenneth R. Chien
• Robert S. Langer
• Derrick Rossi
HeadquartersMassachusetts, USA
Staff820
InterestsVaccine/RNA Vaccine, COVID-19/Vaccine
Membership• Moncef Slaoui
• Stéphane Bancel
• Stephen Hoge
• Juan Andres
• Marcello Damiani
• Tracey Franklin
• Lori Henderson
• Ray Jordan
• David Meline
• Tal Zaks
Spooky tech company producing cure-all RNA vaccine

Moderna (formerly ModeRNA) is an American biotech company focused on drug discovery and drug and vaccine development based exclusively on messenger RNA (mRNA). In April 2020, Trump appointed Moderna board member Moncef Slaoui to Operation Warp Speed, the plan to vaccinate the entire American population by 2021. In November 2020, the company launched its Covid-19 vaccine.

History

In 2010, ModeRNA Therapeutics was formed to commercialize the research of stem cell biologist Derrick Rossi, who developed a method for modifying mRNA, transfecting it into human cells, then dedifferentiating it into stem cells that could then be further dedifferentiated into desired target cell types.

The company has a long history of collaboration with BARDA, for an improved Zika virus vaccine candidate,as well as large-scale manufacturing for the Zika vaccine. and DARPA, for advancing mRNA therapies and vaccines for biodefense[1].

In December 2018, Moderna became the largest biotech initial public offering (IPO) in history, raising $600 million for 8% of its shares, implying an overall valuation of $7.5 billion[2]. Fitting for its military/intelligence ties, the company has a reputation for secrecy and little of its work has ever been published, and none peer-reviewed or scientifically validated[3].

Covid-19 Vaccine

In November 2020, the company claimed it had achieved "94.5% efficiency"in its Covid-19 vaccine. Using a highly "experimental approach"[4] Its first interim analysis was based on 95 cases, of which 90 cases of COVID-19 were observed in the placebo group versus 5 cases observed in the mRNA-1273 group. Based on these interim safety and efficacy data, Moderna intends to submit for an Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration (FDA) and with global regulatory agencies, which will prepare the path to several hundred million people being injected.

Executives Selling Shares

Under a rule put in place by the Securities and Exchange Commission in 2000 to allow company employees to sell shares without facing insider-trading charges, several Moderna (and fellow Big PharmaPfizer) executive have - legally - sold shares worth more than $100 million during summer/autumn 2020.[5] Since January, CEO Stéphane Bancel has sold roughly $40 million worth of Moderna stock held by himself or associated investment funds; Chief Medical Officer Tal Zaks has sold around $60 million; and President Stephen Hoge has sold more than $10 million.

"On a scale of one to 10, one being less concerned and 10 being the most concerned," said Daniel Taylor, an associate professor of accounting at the Wharton School, "this is an 11."[6]

Executive

Since 2011, Moderna has been led by CEO Stéphane Bancel, a French businessman who is not a scientist and comes from a pharma sales and operations background.

Since 2011, Moderna has been led by CEO Stéphane Bancel, a French businessman who is not a scientist and comes from a pharma sales and operations background.

After Noubar Afeyan and Robert Langer, Bancel is the largest individual shareholder in the company.

Stephen Hoge is President and a former McKinsey & Company management consultant who joined in 2012; he is the fourth-largest individual shareholder in the company.

Lorence Kim is CFO and a former Goldman Sachs biotech investment banking managing director who joined in 2014; he is the fifth-largest individual shareholder in the company.

Since 2011, the Chairman of Moderna has been the CEO of Flagship Pioneering, businessman Noubar Afeyan. Afeyan holds his interest in Moderna through various Flagship Pioneering vehicles, however, at the 2018 IPO, documents filed stated that Afeyan owned 19.5% of the company, while Flagship owned 18%, thus giving Afeyan control over 37.5% of the company[7].



References