(Reuters) – BioNTech has entered into two separate settlement agreements with the U.S. Nationwide Institutes of Well being and the College of Pennyslvania over the fee of royalties associated to its COVID-19 vaccine, the corporate stated in filings on Friday.
The German firm, which companions with U.S. pharma big Pfizer for its COVID-19 vaccine, stated it might pay $791.5 million to the U.S. company underneath the settlement.
BioNTech has taken the license for sure patents from the NIH, amongst different entities, as a consequence of which the U.S. authorities is owed sure royalty funds.
Individually, the corporate can pay $467 million to the College of Pennyslvania, which is able to dismiss a lawsuit introduced in opposition to the vaccine maker accusing it of underpaying royalties.
Penn’s lawsuit stated that BioNTech acquired a sublicense to the college’s know-how via one other firm in 2017, which it later used to develop the vaccine, Comirnaty, with Pfizer.
(Reporting by Bhanvi Satija and Sneha S Ok in Bengaluru; Enhancing by Anil D’Silva)
