A German court on Thursday put on hold a patent trial brought by German biotech firm CureVac against domestic rival BioNTech over the use of mRNA technology in COVID-19 vaccines, weighing on CureVac's shares.
The Duesseldorf regional court said it suspended its proceedings until the German and the European patent offices decide on a legal challenge filed by BioNTech over the validity of CureVac's intellectual property rights.
CureVac's Germany-traded shares slumped 18% to their lowest in almost nine months, while BioNTech shares slipped 0.6%.
CureVac's efforts to develop an mRNA based COVID-19 vaccine did not succeed during the pandemic, while BioNTech generated about 17 billion euros ($17.96 billion) and 19 billion euros in annual sales in 2022 and 2021, respectively, thanks to its successful coronavirus vaccine business with partner Pfizer.
Analysts have previously said that much is at stake in the legal dispute for CureVac because being awarded even a small fraction of the revenues could transform its financial position.
A separate patent infringement case brought by CureVac was previously suspended by the Duesseldorf court because a higher court first needs to review that patent's validity. A decision on that is expected in December.
https://finance.yahoo.com/news/1-german-court-suspends-mrna-152710507.html
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