Moderna Therapeutics, a company focused on developing messenger RNA therapeutics, has officially celebrated the opening of its new headquarters at Technology Square in Cambridge.
Much of the company’s operations were previously located at a nearby office on First Street. To accommodate growth, Moderna is not only keeping its existing office, which has about 22,000 square feet of space, but it is also occupying nearly 44,000 square feet of additional space at Technology Square as well. Moderna said it will have up to 100 full-time employees at the two locations by the end of 2013.
The new office will be the center of Moderna’s R&D efforts, and it represents a significant increase in laboratory space for the company, Moderna said in a press release. The facility houses administrative and corporate needs as well as IT specialists and is equipped with state of the art technology to enable virtual collaboration and cloud-based computing.
Messenger RNA therapeutics is a new drug modality that produces human proteins or antibodies inside patient cells. This platform addresses currently undruggable targets and offers a superior alternative to existing drug modalities for a wide range of disease conditions.
“We are thrilled to expand our presence in Massachusetts, the country’s most important hub of biotech innovation, which has been a great source of talent and ideas to Moderna from its earliest days,” Stéphane Bancel, president and founding chief executive of Moderna, said in a statement. “With this facility, we intend to deliver on the promise of messenger RNA therapeutics by developing transformative new medicines for a wide range of diseases, including many that are untreatable today.”
The Massachusetts Life Sciences Center, an agency charged with implementing Governor Deval Patrick’s 10-year, $1 billion life sciences investment initiative, awarded Moderna tax incentives tied to new job creation in Massachusetts, said Susan Windham-Bannister, the center’s president and chief executive.