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Moderna Establishes New Charitable Foundation

Moderna Inc. (MRNA) said that it is establishing a new charitable foundation to promote public health, healthcare and educational opportunities, particularly in underserved populations.

The company's board has approved an initial up-front endowment of $50 million for the Moderna Charitable Foundation.

The company is applying to the U.S. Internal Revenue Service for designation of the Foundation. Moderna expects that the Foundation will commence operations once its status is approved.

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