He was co-founder of J.P Morgans Global Strategic Advisory Council and co-founder of the firms Board Initiative. To model how single-atom changes affected bonding between nucleosides, they enlisted a quantum chemistry expert, Michelle Hall. Moderna is revolutionizing the restoration of protein function withmessenger RNA Therapeutics, a new treatment modality that enables the body to produce healing proteins in vivo. Most small biotechs have to publicize every step of their early research in a scramble to raise money, Moore notes. To tackle lifelong diseases where patients are missing a key protein, such as an enzyme that removes toxic compounds from the body, mRNA drugs will likely have to be delivered intravenously for decades. ", For many researchers who have worked with companies, that isn't surprising. AAAS is a partner of HINARI, AGORA, OARE, CHORUS, CLOCKSS, CrossRef and COUNTER. Moderna has shared little detail in published papers about the technology it's developing, though there are clues in its abundant patent filings. Learn More on Moderna's active insiders. Initially operating in "stealth mode"without announcement of its existenceModerna's team screened mRNA assembled from various modified nucleosides and hit on one called 1-methylpseudouridine. Afeyan at Flagship, who recruited Bancel, calls such a portrayal irrelevant "social science" that gives Moderna's technology short shrift. In 1996 the World Economic Forum named Mr. Sagan a Global Leader for Tomorrow. Moderna was founded on the idea that messenger RNA (mRNA), the molecule that relays genetic instructions from DNA to the cell's proteinmaking machinery, could be re-engineered into a versatile set of drugs and vaccines. Huidong Wang - Barclays Bank Dont yet have access? Ms. Franklin joins Moderna following 15 years at Merck & Co., Inc. where she most recently led Mercks global talent strategy as Vice President, HR Chief Talent and Strategy Officer and served on Mercks HR Leadership Team. Stephen is well known for his contributions to the biotechnology sector. Stphane Bancel Age : 49 Public asset : 2,918,785,354 USD Country of residence : Unknown Linked companies : Moderna, Inc. You can sign up for additional alert options at any time. Then it degrades within a day. Mr. Andres holds a Master degree in Pharmacy from Alcala de Henares University in Madrid and completed an advanced development program at the London Business School. The German biotech CureVac, for example, has brought mRNA-based vaccines for rabies and cancer to clinical trials, and Karik now heads a research team at BioNTech in Mainz, Germany, that focuses on mRNA-based drugs. (Investigators are not required to register phase I trials with ClinicalTrials.gov. Mr. Mock holds a Bachelor of Arts in economics from St. Lawrence University. You must click the activation link in order to complete your subscription. "We're going to find applications [for mRNA drugs]," Heartlein says, but "it may not be as broadly applicable at the end of the day as people are thinking.". Dr. Nader previously led global commercial operations at the Pasteur Vaccines division of Rhone-Poulenc (now part of Sanofi (NASDAQ: SNY)). Dr. Collins joined Moderna from Novartis, where he held roles of increasing responsibility over the last nearly 30 years, focused on pharmaceutical production and manufacturing, including roles serving as Head of Global Chemical Operations and Anti-Infectives and as Head of Global Chemical Operations. Moderna is preparing to submit data for 50 g COVID-19 boosters in this age group. Robert S. Langer, Sc.D., is the David H. Koch Institute Professor at MIT (there are 14 Institute Professors at MIT; being an Institute Professor is the highest honor that can be awarded to a faculty member). Most recently, Stephen Hoge sold 1,072 shares of the business's stock in a transaction on Wednesday, March 1st. As Chief Financial Officer, Jamey Mock oversees financial, business development and business services functions at Moderna. Winning those early investments, by his estimate, "comes down to salesmanship.". Insiders at Moderna own 15.7% of the company. He holds an MD with thesis from the University of California, San Francisco and a BS in Neuroscience from Amherst College. About 1.5 . If you experience any issues with this process, please contact us for further assistance. Hoge said he's optimistic the company will be able to offer its vaccine "across all age groups in the United States by the summer." Moderna says its original adult dose two 100-microgram. Dr. Nader is the past Chairman of BioNJ, New Jerseys biotechnology trade organization, and previously served on the board of the Biotechnology Industry Organization (BIO), NPS Pharma (NASDAQ: NPSP), Advanced Accelerator Applications (NASDAQ: AAAP), Baxalta (NYSE: BXLT), Clementia Pharmaceuticals (NASDAQ: CMTA), Trevena (NASDAQ: TRVN) and Noven (NASDAQ: NOVN). She was based in Switzerland, the U.K. and the U.S. During his tenure as CEO, Dr. Nader transformed NPS Pharma into a leading global biotechnology company focused on delivering innovative therapies to patients with rare diseases. The company said that, armed with additional evidence, it is updating its FDA application for teen shots and requesting a green light for 6- to 11-year-olds, too. Moderna President Dr. Stephen Hoge shot back and told the WSJ the pricing was fair because vaccine doses for pneumonia, hepatitis, and meningitis typically cost even more. Stphane Bancel has served as Moderna's Chief Executive Officer since October 2011 and as a member of Modernas board of directors since March 2011. Given the wide variety of potential applications, a core pillar of Modernas business strategy will be to partner with companies, patient organizations, and others to rapidly accelerate the development of new treatments for patients. He focuses on capital formation at the fund and portfolio company levels and helps the firms management teams grow and realize value. Dr. Hoge earned a salary of $684,808.00, stock awards of $3,000,000.00, options awards of $3,000,000.00, non-equity compensation of $819,000.00, and other compensation of $299,624.00. He teaches and speaks around the world on topics ranging from entrepreneurship, innovation, and economic development to biological engineering, new medicines, and renewable energy. "We have not included enough cases to date at the interim analysis to declare early success," said Moderna executive Raffael Nachbagauer at the meeting. As Chief Commercial Officer, ArpaGaray leads Modernas global commercial organization. Due to the lack of information about his actual date of birth, his followers are having a hard time wishing him his birthday as of now. He was elected a fellow of the American Academy of Arts and Sciences in 1999. Mr. Sagan is also a director of VMware, Inc. "That's why I think we're going to end up on the slope of enlightenment without passing the trough of disillusionment.". Prior to Lilly, Mr. Bancel served as Asia-Pacific Sales and Marketing Director for bioMrieux. ), Moderna's leaders argue that they've disclosed research the way most private companies doby detailing it in patent filings. After submitting your request, you will receive an activation email to the requested email address. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Co-founder and Chairman, Moderna; CEO, Flagship Pioneering. "It's a huge idea," says Michael Heartlein, who heads mRNA research at a competing biotech called RaNA Therapeutics just a few blocks away. "I could have spent the next 15 years turning the crank, putting out more papers, training more students," she says, "but when I'm 80 or 90 and I look back at my life, I would regret that decision.". Prior to Moderna, Dr. Hoge was a partner at McKinsey & Company and a leader in the firms global Healthcare and Corporate Finance practices. President Juan Andres President, Strategic Partnerships and Enterprise Expansion Jerh Collins, Ph.D. Chief Technical Operations and Quality Officer Kate Cronin Chief Brand Officer Brad Miller Chief Information Officer Tracey Franklin Chief Human Resources Officer Arpa Garay Chief Commercial Officer Jamey Mock Dr. Nader earned his French doctorate in medicine from St. Joseph University in Lebanon and a physician executive MBA from the University of Tennessee. Moderna President Stephen Hoge in an interview said he expected to start generating revenue from the flu vaccine in 2024, although the amount would depend on timing of the launch. Ms. Cronin led integrated campaigns involving social, digital, brand and public relations for Ogilvys largest, long-term health clients including BMS, Boehringer Ingelheim, Merck and Pfizer. Betsy Nabel, M.D., brings a unique perspective to health care based on her experience as a physician, research scientist, academic medicine leader, and wellness advocate. Beyond its $100-millionper-year platform research, Moderna runs four wholly owned ventures focused on drugs for infectious diseases, rare diseases, immuno-oncology, and personalized cancer vaccines. ", Her calculations informed an algorithm that predicts, for a given protein, what mRNA sequence would produce the structure most appealing to a ribosome. In this role, Ms. Franklin was responsible for leading the vision, development and execution of the companys Talent and Workforce Strategy with a focus on evolving the organizational culture and talent for the future. During Mr. Berenson's leadership of the Board Initiative, more than 1,000 independent directors of public companies attended at least one of J.P. Morgans board events to discuss, debate and share best practices on the key issues they faced in the fulfillment of their duties. Currently, Dr. Hoge also serves on the Board of Directors of Axcella Health, Inc., a publicly traded, clinical-stage biotechnology company. Once Moderna submits its full data, the U.S. Food and Drug Administration will have to determine if that important marker means the youngsters are as protected against severe illness as adults.. But as more cash poured in$100 million from Alexion Pharmaceuticals to pursue rare diseases, $100 million from Merck for a set of antiviral drugsthe image of Bancel as a brash newcomer with a crisp suit and an audacious pitch became part of the company's mystique. Currently, Stephen Hoge is President at Moderna, Inc. and President for ModernaTX, Inc. (a subsidiary of Moderna, Inc.). Previously, she served as Chief Ethics, Risk & Compliance Officer. He retired from Genzyme in June 2011 following the acquisition of Genzyme by Sanofi in a transaction valued at more than $20 billion. By providing your email address below, you are providing consent to Moderna to send you the requested Investor Email Alert updates. Mr. Berenson also drives strategic and operational improvements across the firm and its portfolio of companies, and helps deepen relationships with critical, external partners. April 16 (Reuters) - An experimental mRNA cancer vaccine developed by Moderna Inc and Merck & Co cut the risk of death or recurrence of the most deadly skin cancer by 44% compared with Merck's immunotherapy Keytruda alone, U.S. researchers reported at a medical meeting on Sunday. He was catching potential investors at an inauspicious time: Many were smarting from disappointing trials of RNA interference therapies, which use short, double-stranded RNA to disrupt the production of disease-causing proteins. "That's what people latched onto; they want the promises to be true, and they want to see the investment really turn it into something meaningful.". Conference Call Participants. Many RNA drugs to date have encapsulated the nucleic acid in nanoparticles made of lipids. He is the also the only engineer to receive the Gairdner Foundation International Award; 72 recipients of this award have subsequently received a Nobel Prize. ("Moderna has probably made more RNA by in vitro transcription than all of humankind ever," quips Edward Miracco, a senior scientist on its process innovation team.) In 1998, he received the Lemelson-MIT prize, the worlds largest prize for invention, for being one of historys most prolific inventors in medicine. In 1989 Dr. Langer was elected to the Institute of Medicine of the National Academy of Sciences, and in 1992 he was elected to both the National Academy of Engineering and to the National Academy of Sciences. More recently, he has assumed responsibility for the companys Clinical Development Office. Among dozens of mouse studies, he presented work led by Moderna Co-Founder Kenneth Chien, then at Harvard Medical School in Boston, showing that mice recovering from induced heart attacks survived longer and had stronger hearts when injected with mRNA encoding a protein that drives blood vessel formationvascular endothelial growth factor (VEGF). As Chief Technical Operations and Quality Officer, Dr. Collins is responsible for the technical development, quality, and supply of preclinical, clinical and commercial programs within Modernas portfolio. Hoge said he's optimistic the company will be able to offer its vaccine "across all age groups in the United States by the summer." Moderna says its original adult dose two 100-microgram. Of our team identify as racially or ethnically diverse *U.S. 2021, Of our leadership team identify as women *2021, President, Strategic Partnerships and Enterprise Expansion, Chief Technical Operations and Quality Officer, Chief Legal Officer and Corporate Secretary, Ph.D., Co-founder and Chairman, Moderna; CEO, Flagship Pioneering, Sc.D., Academic Co-Founder, Moderna; David H. Koch Institute Professor, MIT, M.D., Executive Vice President for Strategy at ModeX Therapeutics, M.D., Former President, CEO and Executive Director, NPS Pharmaceuticals, Senior Advisor and Executive-in-Residence, General Catalyst, Retired Chairman, President, and CEO of Genzyme - in memoriam. Net sales break down by type of revenue as follows: - revenue from product sales (95.7%) ; - revenues from grants (4%); - revenues from collaboration agreements (0.3%). He joined Akamai in October 1998 as chief operating officer, became president the following year, and was CEO from April 2005 until 2013. Ms. Garay has lived in five countries including Hong Kong, India, Norway, Singapore, and the U.S. He also served on the boards of Abiomed, Inc., AVEO Pharmaceuticals, Verastem, Inc., and Medical Simulation Corporation. "It was incredibly high risk. He also has approximately 800 issued and pending patents worldwide. As the data flowed in during 2011 and 2012, Bancel, who had come to Moderna from the French diagnostics company bioMrieux, began to work up a pitch. These strands of instructions could teach our cells to make whatever was needed to treat or prevent diseasevirus-slaying antibodies, wastegobbling enzymes, heart-mending growth factors. Additionally, Ms. Cronin grew Ogilvys business in the health and wellness arena, encompassing a broad portfolio including pharmaceuticals, consumer health, insurance, hospitals, health technology and medical devices. That may be the price of Moderna's unicorn status: The higher the hopes are for a new treatment approach, the more consequential its warts and blunders become. It was untried and untested." Kelly Servick is a staff writer at Science. And many lipid nanoparticles are not easily degraded in the body, so they can cause toxic buildup in the liver. For elementary school-age kids, it's using half the adult dose. And it launched its first two phase I trials without announcing what diseases they targeteda decision Bancel attributes to fears that financial markets would prematurely pigeonhole the company into a particular field. Bancel recalls the meeting when they described this breakthrough: "They blew my brain on the walls.". You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The estimated net worth of Stephen Hoge is at least $234.53 million as of March 1st, 2023. Stephen Hoge President, Moderna, Inc. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. "That got us excited," says Pangalos, who was eager to build up AstraZeneca's pipeline of cardiovascular drugs. On average, Stephen trades about 13,850 units every 10 days since 2018. Human safety trials have already begun for vaccines against two flu strains and the Zika virus, and for a fourth undisclosed viral vaccine developed in collaboration with Merck. And all of them are administered locally, under the skin or into a muscle or tumor. But findings in Moore's lab supported the view that mRNA strands with more of the nucleosides that tend to form tight bonds are, in fact, easier for ribosomes to translate. The most recent insider tranaction occured on April, 12th when CEO Stephane Bancel sold 40,000 shares worth more than $6,267,200.00. Just do the right science.". Chief Legal Officer and Corporate Secretary. He became its chief executive officer in 1985 and chairman in 1988. Dr. Nader served as President, Chief Executive Officer and Executive Director of NPS Pharmaceuticals from 2008 until 2015, when the company was acquired by Shire (now part of Takeda (NYSE: TAK)). Since Modernas early days, Dr. Hoge has led our scientific efforts, including the creation of our platform and therapeutic areas. Learn More on Stephen Hoge's salary. Information on this page was last updated on 4/12/2023. Where on this curve, she wondered to Moderna's president, Stephen Hoge, was their technology? As chief legal officer and corporate secretary, Shannon Thyme Klinger leads Modernas legal, governance and corporate compliance efforts. Moore's academic work has advanced a counterintuitive theory about mRNA. During Ms. Garay's 16-year tenure at Merck, she gained broad international enterprise with increasing responsibility across oncology, vaccines, specialty, and chronic care. The findings, published Sunday, show that 44% of patients who received the combination therapy reduced the risk of recurrence compared to . That makes even mild toxicity or subtle immune reactions a potential deal-breaker. Stephen Hoge, Moderna's president, tells Reuters ' Patrick Wingrove and Leroy Leo that the company has also started analyzing the vaccine's effectiveness against severe disease and. . . Learn More on Stephen Hoge's trading history. Doing so took the Moderna team deep into the structure of mRNA. It bore a chemical "bump" that the team suspected kept it from locking into key receptors on the surface of immune cells. In other words, the trough of disillusionment, if it's still ahead, threatens to be deep. Company Participants. Prior to McKinsey, Dr. Hoge was a resident physician in New York City. Dr. Horning currently serves on the Board of Directors of Gilead Sciences, Inc. (Nasdaq: GILD). No, we said, What if? But few companies have delved into nucleoside engineering the way Moderna has, or pursued such a broad range of diseases from the start. Mr. Miller holds a Bachelor of Science in Human Factors from the University of Waterloo in Ontario, Canada, as well as a Master of Science in Human Computer Interaction in Systems Engineering from the University of Nottingham. Mr. Termeer studied economics at the Economische Hogeschool (Erasmus University, The Netherlands) and earned an MBA from the Darden School at the University of Virginia. Moderna president Stephen Hoge recently discussed the possibility that current coronavirus mutations could combine in "potentially scary ways." The scenario described by Hoge would provide. Later he joined Time Warner to co-found three businesses: NY1, the 24-hour cable news network; Roadrunner, the worlds first consumer broadband service; and Pathfinder, one of the first internet advertising platforms. "If you're trying to sneak in there and make a thing, you have to look pretty darn natural," Hoge says. Simultaneous with her service as President of Brigham Health, Dr. Nabel was also a Professor of Medicine at Harvard Medical School from 2010 to 2021. Higher-ups are identified by black-and-white headshots hanging at their office doors. But Moderna President Stephen Hoge told Insider on Monday that people can be more selective about boosters from now on. Academic Co-Founder, Moderna; David H. Koch Institute Professor, MIT. *Update, 16 November, 9:10 a.m.: Moderna announced today that its experimental mRNA vaccine for COVID-19 achieved 94.5% protective efficacy in an interim analysis of a 30,000-person trial. St?phane Bancel is the CEO of Cambridge, Massachusetts-based biotech firm Moderna, known for its Covid-19 vaccine. "Then people get to see all the failures. The same nucleoside modifications that made mRNA more stealthy also made it less recognizable to the ribosome. Retired Chairman, President, and CEO of Genzyme - in memoriam. "I had never done anything like that before, but I knew I had to do it. Maybe, as Moore and Hoge concluded from their morning meeting, you don't have to ride up and down Gartner's hype curve if you can work through the biggest setbacks before the public ever sees them. Dr. Horning received her M.D. Assembling these chemical instructions could be a faster and more adaptable way to make drugs than manufacturing the individual proteins themselves in large bioreactors. After PerSeptives acquisition by Perkin Elmer/Applera Corporation in 1998, he became senior vice president and chief business officer of Applera, where he initiated and oversaw the creation of Celera Genomics. "We will not sell it at cost," said Dr. Stephen Hoge, the president of Moderna. . Mr. Miller joined Moderna from Capital One, where he served as Executive Vice President and Chief Information Officer of Enterprise Products and Platforms. Through February 2021, Dr. Nabel was President of Brigham Health, which includes Brigham and Womens Hospital, Brigham and Womens Faulkner Hospital, and the Brigham and Womens Physician Organization, a position she held from 2010. Pfizer and Moderna are both taking advantage of this fact with ongoing combination vaccine programs. In this role, Mr. Miller led Capital Ones Enterprise Products and Platforms organization, responsible for building and operating critical enterprise services and digital experiences across all lines of business. They developed levels of antibodies just as strong as young adults who get full-strength shots, the company said. New data from Moderna Inc's large COVID-19 vaccine trial shows that the protection it offers wanes over time, supporting the case for booster doses, the company said in a news release on Wednesday. Hoge acknowledges that some conditions may be off limits to mRNA drugs simply because they require higher levels of protein than the mRNA can make at a safe dose. Stephen Hoge - President. Prior to Novartis, Juan worked at Eli Lilly & Co. for 18 years in a variety of manufacturing, production and quality roles in the United States, Puerto Rico, UK and Spain. Elizabeth Tallett has spent more than 35 years in strategic leadership and operational roles in worldwide biopharmaceutical and consumer products industries. Before joining Moderna, Mr. Andres was the Global Head of Technical Operations, Manufacturing and Supply Chain at Novartis for over 25,000 employees across all of its divisions. Being a startup valued at more than a billion dollarsan anomaly that venture capitalists dub a unicorncomes with scrutiny, and many wonder whether Moderna's pipeline, consisting mostly of vaccines for now, will expand to match the company's original vision of mRNA as a broad treatment platform. It hasn't revealed which modified nucleoside is in its newest generation of drug candidates. We think that's good news," Stephen Hoge, Moderna's president, told the Associated Press. The mRNA treatment would code for an enzyme that breaks down bilirubin, a toxic substance that builds up in patients' blood. with thesis from the University of California, San Francisco, and a B.S. Executive Vice President for Strategy at ModeX Therapeutics. Dr. Afeyan is a member of the Corporation of MIT (the Institutes governing body) and a member of the board of trustees for the Boston Symphony Orchestra. . Mr. Termeer was appointed president of Genzyme in 1983, two years after the companys founding. In fact, it wasn't even clear that it was anywhere on our priority list. It has taken a lot of science to make mRNA act like a drug. In this role, she led the full spectrum of Ogilvy Healths core capabilities including public relations and influence, brand strategy, advertising, medical education, market access, and patient and consumer engagement. Stephen Hoge has not been actively trading shares of Moderna over the course of the past ninety days. But because we've been quiet about it, nobody's seen that. Ms. Klinger received her Juris Doctorate with honors from the University of North Carolina at Chapel Hill and a bachelors degree in psychology from the University of Notre Dame. He became CEO of Moderna in 2011 and owns a roughly 8% stake in the publicly. The largest trade he's ever made was exercising 20,000 units of Moderna Inc stock on 12 May 2022 worth over $119,000. To him, the sum was astonishing, given the preliminary findings he had seen. from University of Iowa School of Medicine and completed her post-graduate fellowship in Oncology and Cancer Biology at Stanford University. Visitwww.modernatx.comto learn more. Ms. Garay received her Bachelor of Science in economics from the Massachusetts Institute of Technology, where she focused on medicine, public health and public policy. Specifically, she was thinking about Gartner's hype cycle, a glib model cooked up by an IT research firm, in which every new technology ascends a "peak of inflated expectations," sinks into a "trough of disillusionment," then climbs the "slope of enlightenment" to reach a "plateau of productivity." "There's real data, there's real molecules.". We think that's good news," Dr. Stephen Hoge, Moderna's president, told The Associated . Bulk up on protein, animal study suggests, Human vaccine data release jump-starts biotech's bid for RNA drugs. Mr. Sagan began his career as a television journalist and his work was recognized with three Emmy Awards for broadcast news in New York City. Get more great content like this delivered right to you! But now that treatments are being injected into people, "there's a certain obligation to patients to start to tell that story," Hoge says. But if it could work for one disease, it would likely work for many. They sold a total of 2,135,313 shares worth more than $331,682,475.47. Moderna is evaluating 25 g dose as a primary series and a booster dose in this age group. Moderna enrolled about 6,900 kids under 6 including babies as young as 6 months in a study of the 25-microgram doses. During that time, he was instrumental in transforming PerkinElmer into an organization with a strengthened financial profile for growth and profitability. Garay has lived in five countries including Hong Kong, India, Norway,,... Done anything like that before, but I knew I had never done anything like that before but. Clinical development Office activation email to the biotechnology sector that makes even toxicity. 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