Moderna Breaks Ground on 462,000 SF Research and Development Facility Outside Boston
CAMBRIDGE, MASS. — Moderna (NASDAQ: MRNA) has broken ground on the Moderna Science Center, a 462,000-square-foot research and development facility located at 325 Binney St., less than one mile from the company’s global headquarters in the Boston-area community of Cambridge.
The biotechnology company is a pioneer in the usage of messenger RNA (mRNA) for therapeutics and vaccines, including one of the earliest and most effective vaccinations against the COVID-19 virus. Moderna plans to use this site to advance its pipeline of mRNA research, which includes 37 programs currently in development and 22 ongoing clinical studies.
Alexandria Real Estate Equities Inc. is developing the property, which will include custom scientific spaces for research and development, as well as collaborative office space. JLL represented Moderna in the acquisition of the development site. The project is targeting LEED Platinum certification and is scheduled for completion in 2023.
“We have been located in Massachusetts since our founding more than 10 years ago and are proud to be based here,” says Stéphane Bancel, CEO of Moderna. “As we advance our mRNA platform and science, our new science center will integrate digital-first scientific research and development labs along with space for innovation and co-creation with our people and our partners around the world.”
Moderna recently announced an expansion at the company’s manufacturing facility in Norwood, Mass., which opened in 2018. This expansion will support the company’s efforts to ramp up production of its COVID-19 vaccine in late 2021 and early 2022.
The company’s stock price closed at $378.90 on Wednesday, Sept. 30, up from $70.52 one year ago, a 437 percent increase.