Moderna shares fall after judge sides with Arbutus in patent fight

Roivant Sciences

03/04/2024 19:00

April 3 (Reuters) - Shares of Moderna  MRNA.O  fell 4%
on Wednesday after a U.S. judge issued an order that
strengthened Arbutus'  ABUS.N  arguments in a patent
infringement lawsuit related to Moderna's blockbuster COVID-19
vaccines.
    In a so-called "claim construction order", U.S. District
Judge Mitchell Goldberg interpreted parts of the patents in ways
that strengthened Arbutus' case, rejecting Moderna's proposed
definitions. 
    The order is relevant in determining whether Moderna's
vaccines are covered by Arbutus' patented technology.
    Shares of Moderna fell 4.6% to $98.81, while Arbutus shares
rose more than 15% to $2.91 in afternoon trading.
    The lawsuit, which was filed in 2022, has Arbutus seeking
damages for infringement of U.S. patents related to Moderna's
COVID-19 vaccine.
    Arbutus said it developed the so-called lipid nanoparticles
(LNP) that enclose the vaccine's mRNA payload, the patents
related to which were licensed to Genevant Sciences, a joint
venture between Arbutus and Roivant Sciences Ltd.
    The technology is used to deliver RNA to target cells
without being attacked by the body's immune system.
    A trial in the case is currently set to begin next April.

 (Reporting by Christy Santhosh in Bengaluru and Blake Brittain
in Washington; Editing by Shailesh Kuber)
 ((Christy.Santhosh@thomsonreuters.com;))