When Biontech agreed to acquire the rival company of Messenger Curevac in an agreement of shares of $ 1.25 billion earlier this summer, some financial analysts said that the purchase amounted to an agreement outside the field of the litigation of patents between the two companies. As the acquisition approaches its completion, Biontech and Curevac have reached a formal agreement of the patent dispute, an agreement that approaches the partners of respect for companies, Pfizer and GSK.
In litigation in the last two years, Curevac alleged the Biontech and PFIZER vaccine for Cuevac patents infringed COVID-19 based on its more than two decades of RNA research. According to the terms of the agreement announced on Friday, Curevac will grant Biontech and Pfizer a non-exclusive license to make and sell COVID-19 products and ARNM-based influenza for the US market. This license will expand to a world license when the acquisition of Curevac by Biontech is closed.
Beyond the license, Bionntech will pay GSK $ 370 million plus a 1% gift in US products of license products as of January 1, 2025. GSK said that these payments are due to the company under its existing agreement with Curevac. GSK will receive $ 320 million from the initial cash agreement. The rest will be accounted for as a payment of $ 50 million GSK to Curevac, which Curevac said that it is to monetize a part of the royalties of the product owed under a license agreement of 2024. That agreement gave GSK Global Rights to a mood candidate for the avian influenza vaccine of its association. GSK also obtained all the rights of a seasonal influenza vaccine and a COVID-19 vaccine.
After the acquisition of Biontech of Curevac, Bionntech will pay GSK for another $ 130 million and a 1% gift in the world’s rest sales. Biontech said Pfizer agreed to reimburse him for $ 80 million and half or claimed royalties payable for GSK sales for COVID-19 products based on RNA. The closure of the acquisition will also activate a payment of $ 370 million of Biontech to Curevac and a 1% galad in sales. GSK and Curevac will win roads as of January 1, 2025, without savings.
Biontech and Curevac are companies based in Germany that began their Arnm in Cancer research. The Covid-19 Pandemia led them to focus on vaccines for the novel coronavirus. His fortunes diverged from there. While Biontech and his partner Pfizer developed the first COVID-19 ANM vaccine of Succesulently authorized and then approved, called Lation, Curevac’s efforts, fell short in clinical tests. With the revenues of Lation, Biontech has built a diverse pipe, including a wide R&D alliance of Bristol Myers Squibb that was revealed in June.
Meanwhile, Curevac returned to its cancer roots without a partner and with a narrower and less advanced pipe compared to Biontech. Even so, Curevac had been in RNM’s investigation for a longer time than his German counterpart, and his 2022 demand said that Lation infringed several key RNM patents from Curevac. While Curevac said he did not want to stop the production and distribution of the Biontech and Pfizer vaccine, his demand sought “fair compensation.”
The acquisition agreement announced in June occurred after the decisions of the key courts in Europe confirmed the validity of two curevac patents. Readink Partners analysts pointed out that Bionntech faced the risk of needing to pay backsets royalties in approximately $ 32 billion in sales of Lationnaty. The agreement causes Biontech of much of that financial burden. The parties have also presented paperwork by dismissing the case of violation of patents in a federal court in Virginia. The agreement releases Biontech and Pfizer from all the statements that they infringed the work by Curavac with GSK. That version will be applied worldwide after closing the acquisition.
Biontech said the agreement does not constitute an admission of responsibility with respect to the accusations raised by Curevac or GSK, which the company expressly expresses. However, GSK said the agreement does not affect its own application of its own patents against Pfizer and Bionntech in the United States and Europe.
“GSK will continue with its litigation against Biontech and Pfizer for the violation of GSK patents,” said the pharmaceutical giant in a separate announcement.
The acquisition agreement requires that shareholders representing at least 80% of Curevac’s actions to bidding actions. In June, Biontech said the representation of the shareholders 36.7% of Curevac’s shares agreed to submit those actions and vote in favor of the agreement. The agreement is approaching the number of necessary actions. GSK said throughout the liquidation that it has entered into a usual tender and supports the completion under which it is tending that it is an approach of 16.6 million actions of Cureevac in the next sacrifice, which represents the Shas Informantes de Merena. The acquisition is expected to close at the end of this year.
Photo: Artist, Getty Images