Moderna Provides Mid-Year Corporate Update

Moderna Therapeutics, a clinical stage biotechnology company pioneering
messenger RNA (mRNA) therapeutics and vaccines to create transformative
medicines for patients, today provided updates on its portfolio of
development candidates and progress on its 2018 priorities.

Moderna now has 21 mRNA development candidates in its pipeline with 10
in clinical development, including one program in Phase 2 and
nine programs in Phase 1.

The Company remains focused on executing against its pre-clinical and
clinical development pipeline; introducing new rare disease and
prophylactic vaccine candidates in areas of unmet need; continuing
investment in its mRNA development platform; and opening the company’s
new GMP clinical development manufacturing plant.

Key updates from the first half of the year include:

“The first half of this year has been about execution on our strategic
priorities including progressing pre-clinical and clinical programs
across our portfolio, generating new rare disease development
candidates, advancing our mRNA platform technology and delivery science,
and completing construction of our new manufacturing facility,” said
Moderna CEO Stephane Bancel. “Our strategic partnerships continue to be
productive, and we were pleased to recently add a fourth collaboration
with Merck, focusing on mRNA cancer vaccines, to our ongoing joint
development efforts. Lastly, we closed an important funding round
earlier this year, with those proceeds enabling us to further invest in
research, our platform, and the acceleration of our programs as we work
to bring new medicines to patients.”

As of today, more than 700 subjects have been dosed in Moderna’s
internally developed and collaboration programs. Moderna’s
full pipeline can be found here.

Clinical and Development Pipeline Updates

Moderna’s pipeline of development candidates are in the following
modalities: prophylactic vaccines, cancer vaccines, intra-tumoral
immuno-oncology, local regenerative therapeutics, and systemic
therapeutics. Following is a full summary of program updates from the
first half of 2018 by modality.

Prophylactic Vaccines

Moderna has nine infectious disease vaccine programs, with seven
completed or in ongoing Phase 1 trials. Four of these vaccines have met
their primary safety and secondary immunogenicity endpoints in Phase 1
studies. The Company is developing commercial vaccines – including
increasingly complex vaccines with multiple antigens – and public health
vaccines aimed at helping prevent future epidemics and pandemics.

Commercial Vaccines

Public Health Vaccines

Cancer Vaccines

Moderna is collaborating with Merck on two cancer vaccine programs, one
of which is in Phase 1 while an IND was authorized by the U.S. Food and
Drug Administration (FDA) for the second. In addition, Moderna is also
supplying an mRNA personalized cancer vaccine for an NCI
investigator-initiated Phase 1 trial. This modality leverages the
potential of cells to use mRNA for making antigens from mutated proteins
that are specific to tumors that are presented and recognized by T
cells, thus immunizing or vaccinating a patient against their cancer.

Intra-Tumoral Immuno-Oncology (I/O)

Moderna currently has three intra-tumoral immuno-oncology (I/O)
programs. One is in Phase 1 and two have completed IND-enabling
toxicology studies and are advancing toward clinical studies. These
programs are focused on driving anti-cancer T cell responses with mRNA
therapies injected directly into tumors.

Local Regenerative Therapeutics

Localized production of proteins has the potential to be used as a
regenerative medicine for damaged tissues. Moderna’s most advanced
program is exploring this application in cardiology in collaboration
with AstraZeneca.

Systemic Therapeutics

Moderna has six programs in its systemic therapeutics modality, with one
having completed and a second having started IND-enabling toxicology
studies. In this modality, mRNA is either delivered systemically to
create proteins that are secreted outside the cell with the aim of
producing pharmaceutically active therapeutic proteins with effects
across the human body – or intracellularly within target organs as a
therapeutic approach for diseases caused by a missing or defective
protein.

Systemic Therapeutics (Secreted)

Systemic Therapeutics (Intracellular)

Q4 2017 and Recent Business/Financial Updates

Board of Directors and Management Updates

About Moderna Therapeutics

Moderna pioneers the discovery and development of messenger RNA (mRNA)
therapeutics and vaccines, an entirely new class of medicines that
directs the body’s cells to produce intracellular or secreted proteins
that can have a therapeutic or preventive benefit for both patients and
healthy individuals. With its breakthrough platform, Moderna is creating
mRNA medicines for a wide range of diseases and conditions, in many
cases by addressing currently undruggable targets or underserved areas
of medical need. Moderna is developing its innovative mRNA medicines for
infectious diseases, immuno-oncology, rare diseases, and cardiovascular
diseases, through solely controlled programs and collaborations with
strategic partners.

Headquartered in Cambridge, Mass., privately held Moderna currently has
strategic relationships with AstraZeneca, Plc. (AZ), Merck & Co., Inc.
(MRK) and Vertex Pharmaceuticals (VRTX), as well as the Defense Advanced
Research Projects Agency (DARPA), an agency of the U.S. Department of
Defense; the Biomedical Advanced Research and Development Authority
(BARDA), a division of the Office of the Assistant Secretary for
Preparedness and Response (ASPR) within the U.S. Department of Health
and Human Services (HHS); and the Bill & Melinda Gates Foundation. In
2017, Moderna was ranked a top biopharma industry employer by Science
Magazine and a Top Places to Work by the Boston
Globe. To learn more, visit www.modernatx.com.

KEYTRUDA is a registered trademark of Merck Sharp & Dohme Corp., a
subsidiary of Merck & Co., Inc.

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