Moderna pays up to $2.25bn to settle drug delivery tech patent lawsuit [Yahoo! Finance]
Pfizer, Inc. (PFE)
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Source: Yahoo! Finance
Moderna has agreed to pay up to $2.25bn to settle a patent infringement lawsuit with Genevant and Arbutus, ending a prolonged legal battle between the companies. The Massachusetts-based pharma has chosen to settle the score just before a jury was set to weigh in on a patent infringement lawsuit by Roivant subsidiary, Genevant and biotech Arbutus. The suit alleged that Moderna used Genevant and Arbutus' lipid nanoparticle (LNP) delivery technology in its mRNA-based Covid-19 vaccine, Spikevax, without authorisation. Through this deal, Moderna will pay $950m upfront, with the potential for a $1.3bn payment if the US Court of Federal Claims does not uphold Moderna's Section 1498 appeal. However, a 3 March statement deemed it “not probable” that Moderna will pay these added charges. This now ends all litigation between the companies, while granting Moderna a non-exclusive license to use Genevant & Arbutus' LNP delivery technology for infectious disease applications. This developme
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