In August 2021 Moderna founder Noubar Afeyan told David Rubenstien that his Modena COVID vaccine was 93% effective in preventing infection - Moderna's vaccine has failed to prevent infection, but in 2022 the Australian, Victorian Govts and Monash committed taxpayer money to working with Moderna to build a manufacturing facility in Victoria

 by Ganesh Sahathevan 

Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced an agreement in principle with the Australian Government to build a state-of-the-art messenger RNA (mRNA) vaccine manufacturing facility in Victoria, Australia including access to Moderna’s mRNA development engine. The contemplated framework would build the foundation to support Australia with direct access to rapid pandemic response capabilities and to provide access to Moderna’s vaccines in development for respiratory viruses. Moderna and the Australian government are committed to finalize the agreement.

In August 2021 Moderna  founder Noubar Afeyan told David Rubenstien that his Modena COVID  vaccine was 93% effective in  preventing infection. The relevant part of the interview above, Afeyan in response to to a question from Rubenstein says: 

7:04

(Rubenstien)...... So

7:10

the efficacy is around ninety three and a half percent or something like that which means that if you get it you have a

7:16

pretty good chance of not getting the virus right.                 (Afeyan)That's right.

Despite the product's failure the  Australian Government and the Victorian Government decided, in January 2022, to commit funding for Moderna to build a manufacturing facility in Victoria.  The facility is expected to start operating in 2024.

While the Morrison Government initiated the project, the Albanese Government has been happy to take credit.In the words of the Albanese Government:

We announced the partnership to build the facility on 15 August 2022

The cost to the taxpayer has not been revealed.

TO BE READ WITH 

mRNA vaccine manufacturing facility commences construction in Melbourne

Australia’s first large-scale mRNA vaccine manufacturing facility is now under construction at Monash University in Melbourne.

The facility is being established under a 10-year partnership between the Australian Government, global pharmaceutical company Moderna and the Victorian Government.

It is Moderna’s first mRNA vaccine manufacturing facility to be built outside of North America.

A ground breaking ceremony was attended by the Hon Mark Butler MP, Minister for Health and Aged Care, Victorian Treasurer Tim Pallas and representatives from Moderna and Monash University.

The facility is expected to be operational in 2024, subject to regulatory approvals. Once operational, it will produce up to 100 million vaccine doses every year. This will include COVID-19 booster shots as well as mRNA vaccines for other respiratory viruses such as influenza and respiratory syncytial virus (RSV).

Construction will support 500 jobs, with another 500 medical manufacturing and research roles to be created once the facility is operational.

Establishing a local mRNA vaccine manufacturing capability will help protect Australians against future pandemics and will reduce our dependence on imported mRNA vaccines.

The facility contributes to a world-class mRNA ecosystem being established across Australia. The facility will attract highly skilled people and expand local capability including through partnerships with leading Australian research organisations.

More information
We announced the partnership to build the facility on 15 August 2022