(Reuters) – BioNTech has entered into two separate settlement agreements with the U.S. Nationwide Institutes of Well being and the College of Pennsylvania concerning royalty funds associated to its COVID-19 vaccine, the corporate stated in filings filed Friday.
The German firm, which is partnering with US pharmaceutical large Pfizer for its COVID-19 vaccine, introduced it could pay $791.5 million to the US company as a part of the deal.
BioNTech has licensed sure patents from the NIH, amongst different entities, by means of which the US authorities should pay sure royalties.
Individually, the corporate pays $467 million to the College of Pennsylvania, which can dismiss a lawsuit filed towards the vaccine maker, accusing it of underpayment of royalties.
Penn’s lawsuit says BioNTech acquired a sublicense on the college’s know-how by means of one other firm in 2017, which it then used to develop the vaccine, Comirnaty, with Pfizer.
(Reporting by Bhanvi Satija and Sneha SK in Bengaluru; Enhancing by Anil D’Silva)
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