Genevant Sciences and Arbutus Biopharma Announce $2.25 Billion Global Settlement With Moderna
View original at finance.yahoo.comGenevant Sciences and Arbutus Biopharma Announce $2.25 Billion Global Settlement With Moderna Arbutus Biopharma Corporation Moderna to pay Genevant and Arbutus $950 million upfront and an additional $1.3 billion contingent upon a favorable resolution of Moderna’s Section 1498 appeal If the $1.3 billion payment is reali…
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This settlement allows us to put this lengthy dispute behind us and remain focused on our mission to leverage our world-class nucleic acid delivery systems to bring innovative medicines to people who need them
80% confidenceModerna argued that Section 1498 applies such that U.S. taxpayers should assume liability for its infringement of Genevant's and Arbutus' patents for sales made under one of its government contracts
80% confidenceArbutus scientists changed the drug development landscape when they invented LNP delivery technology, enabling nucleic acids including mRNA to be used for medicines and opening a new world of possibilities
80% confidenceThe COVID-19 vaccines would never have made it to the world without the seminal work of Ian MacLachlan, Ed Yaworski, Lloyd Jeffs, Kieu Lam, Lorne Palmer, and Cory Giesbrecht
80% confidenceIf the $1.3 billion payment is realized, this settlement will be the largest disclosed patent settlement paid in the pharmaceutical industry and the second largest in any industry
80% confidenceModerna has acknowledged the contribution of Arbutus scientists and this is a transformative outcome for Arbutus
80% confidenceIt is enormously gratifying for the Genevant team to be recognized for their pivotal contribution to restoring normalcy around the world in the face of a once-in-a-lifetime pandemic
80% confidence