In company filings released today, BioNTech has entered into two separate settlement agreements with the U.S. National Institutes of Health and the University of Pennyslvania over royalties related to its COVID-19 vaccine.
The German company, which partners with Pfizer said it would pay $791.5 million to the U.S. agency under the agreement.
The company will also pay $467 million to the University of Pennyslvania, which will dismiss a lawsuit brought against the vaccine maker accusing it of underpaying royalties.
“Penn is seeking full royalty payments under patent licensing agreements that enabled BioNTech to develop its marked COVID vaccine. Penn uses the revenue generated from these licenses to fund additional ground-breaking research that leads to the discovery of new, life-saving therapies and technologies,” a University spokesperson wrote.
BioNTech originally stated that it disagreed with the positions being taken by the NIH and intended to defend against all allegations of royalty breach.
By CEO NA Editorial Staff
