CureVac slumps as German court quashes patent after challenge by BioNTech

CureVac NV

19/12/2023 15:08

** U.S.-listed shares of German drugmaker CureVac  CVAC.O 
down 32.2% at $3.9
    ** A German court invalidated a patent that was the basis of
a patent violation lawsuit brought by CureVac against its
domestic rival BioNTech  22UAy.DE  
    ** The patent in question is one of several intellectual
property titles that CVAC claims were infringed in ongoing legal
proceedings
    ** CVAC said the court's decision does not affect ongoing
litigations regarding seven other intellectual property rights 
    ** CureVac added that it will appeal before German federal
court of Justice
    ** U.S.-listed shares of BioNTech  BNTX.O  up 3% at $106.8,
while U.S. partner Pfizer  PFE.N  up about 2% at $27.6
    ** CureVac's efforts to develop an mRNA-based COVID-19
vaccine did not come to fruition during the pandemic while
BioNTech and Pfizer chalked up more than $40 billion in combined
vaccines sales in 2021 and 2022
    ** YTD, U.S.-listed CVAC stock down 35.3%

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))