Moderna sets up charitable foundation

 Initial up-front endowment of $50 million

Foundation to support charitable organizations and causes that promote public health, healthcare and educational opportunities, particularly in underserved populations

Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced it is establishing a new charitable foundation to promote public health, healthcare and educational opportunities, particularly in underserved populations. The Moderna Board of Directors has approved an initial up-front endowment of $50 million for the Moderna Charitable Foundation.

"Since Moderna’s founding in 2010, our mission has been about making a transformative positive impact on human lives through our medicines. After a decade of pioneering the development of our mRNA bioplatform, we are humbled to be able to have played such a critical role in combatting the COVID-19 pandemic globally with our vaccine," said Noubar Afeyan, Co-founder and Chairman of Moderna. "We view Moderna’s work as only just beginning. On behalf of our growing team, partners and shareholders, we are determined to extend Moderna’s societal impact through the formation of the Moderna Charitable Foundation. Having experienced the positive impact such charitable foundations can have on those in need, I look forward to the contributions that we will make."

"Moderna is committed to making corporate responsibility a critical part of who we are and what we do with a sense of purpose," said Stéphane Bancel, Chief Executive Officer of Moderna. "We need to embed that sense of corporate responsibility as we commercialize the company, to make sure it is part of our DNA, our culture, forever as we scale. We are passionate about being an active contributor to the communities where we live and work, as well as to global communities impacted by COVID-19 and other diseases. Our recent commitment to provide up to half a billion doses of our vaccine to lower- and middle-income countries through COVAX was a key step in this direction. Now, with the establishment of the Moderna Charitable Foundation, we aspire to make a continuing positive impact - in the decades to come - as we work relentlessly to deliver on our mission for patients."

The Company is establishing the Foundation, which will focus on charitable, scientific and educational endeavors, with particular emphasis on advancing scientific education and innovation, supporting local and global communities, promoting public health and access to healthcare, and advocating for inclusion and diversity. The Company is applying to the U.S. Internal Revenue Service for designation of the Foundation as a 501(c)(3). Moderna expects that the Foundation will commence operations once 501(c)(3) status is approved and anticipates providing further information about the Foundation’s activities at that time.

https://finance.yahoo.com/news/moderna-announces-establishment-charitable-foundation-203000589.html