BioNTech SE ( (BNTX) ) just unveiled an update.
BioNTech SE announced that it has entered into a series of agreements with the University of Pennsylvania, following a binding term sheet signed in December 2024. These agreements include a Settlement Agreement where BioNTech will pay up to $467 million to Penn, covering royalties and funding for a research extension and investment fund. The agreements also amend existing collaboration and license agreements, extending research terms and establishing a framework for future royalties and combination product licenses. The company clarified that the Settlement Agreement does not imply any admission of liability regarding allegations by Penn.
More about BioNTech SE
BioNTech SE is a biotechnology company based in Mainz, Germany, primarily focused on the development and commercialization of immunotherapies for cancer and other serious diseases. The company is well-known for its work in developing mRNA-based vaccines, including its COVID-19 vaccine.
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