CAMBRIDGE, MA — November 20, 2025 — Leads & Copy — Moderna, Inc. (NASDAQ:MRNA) announced today that it has secured a five-year term loan facility of up to $1.5 billion from Ares Management Credit Funds (Ares) to enhance its financial flexibility.
The non-dilutive debt financing, structured over five years, includes:
- A $600 million initial term loan, funded immediately upon closing.
- A $400 million delayed draw term loan facility (DDTL), accessible in multiple draws at Moderna’s discretion until November 2027.
- An additional $500 million DDTL, available in multiple draws at Moderna’s discretion through November 2028, contingent on achieving key regulatory milestones aligned with Moderna’s late-stage clinical pipeline.
Jamey Mock, Chief Financial Officer of Moderna, stated that while the company is well-positioned to achieve its 2028 cash breakeven target, this additional capital strengthens its balance sheet and provides increased flexibility. He also noted Ares’s reputation in the healthcare lending space and expressed pride in securing their financial backing.
Doug Dieter, DrPH, Co-Head of Ares Specialty Healthcare, commented on providing flexible capital to Moderna during a pivotal growth period. He highlighted Moderna’s successful mRNA platform with multiple commercial products and its clinical pipeline, adding that the investment supports Moderna’s capital management approach and long-term financial strategy.
Moderna held its Analyst Day event for investors on November 20, 2025, at 9:00 a.m. ET, with a live webcast available on the company’s investor relations website. A replay of the webcast will be archived on the Moderna website for 30 days.
Moderna is a pioneer in mRNA medicine, aiming to transform disease treatment and prevention through its technology platform. The company’s mRNA platform has facilitated the development of vaccines and therapeutics across various diseases, including infectious diseases, cancer, and rare diseases.
Moderna’s mission is to impact people through mRNA medicines, driven by its values and mindsets. More information can be found at modernatx.com and on various social media platforms.
Moderna’s contacts for media inquiries include Chris Ridley, Head of Global Media Relations, at +1 617-800-3651 or Chris.Ridley@modernatx.com. Investor inquiries can be directed to Lavina Talukdar, Senior Vice President & Head of Investor Relations, at +1 617-209-5834 or Lavina.Talukdar@modernatx.com.
Source: Moderna, Inc.
