4 January 2021 - - US-based biotechnology company Moderna, Inc. (NASDAQ: MRNA) has entered into a supply agreement with the government of the Republic of Korea to provide 40 m doses of the Moderna COVID-19 Vaccine to support the government's aim of providing vaccines to the public as soon as possible, the company said.

Under the terms of the proposed agreement, deliveries would begin in May 2021.

The Moderna COVID-19 Vaccine is not currently approved for use in South Korea, and the company will work with regulators to pursue the necessary approvals prior to distribution.

Moderna is advancing messenger RNA science to create a new class of transformative medicines for patients. mRNA medicines are designed to direct the body's cells to produce intracellular, membrane or secreted proteins that can have a therapeutic or preventive benefit and have the potential to address a broad spectrum of diseases.

The company's platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, providing Moderna the capability to pursue in parallel a robust pipeline of new development candidates.

Moderna is developing therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and autoimmune and inflammatory diseases, independently and with strategic collaborators.

Headquartered in Cambridge, Mass., Moderna currently has strategic alliances for development programs with AstraZeneca PLC and Merck and Co., Inc., as well as the Defense Advanced Research Projects Agency (DARPA), an agency of the US Department of Defense, and BARDA.

Moderna has been named a top biopharmaceutical employer by Science for the past six years.

The Moderna COVID-19 Vaccine has not been approved or licensed by US Food and Drug Administration, but FDA has authorized the vaccine for emergency use in individuals 18 years of age and older.