Roivant's Genevant and Arbutus reach $2.25 billion settlement with Moderna

Roivant Sciences (NASDAQ: ROIV) announced that its subsidiary Genevant Sciences and partner Arbutus Biopharma Corporation (NASDAQ: ABUS) have reached a $2.25 billion settlement with Moderna Inc. to resolve patent infringement litigation related to lipid nanoparticle (LNP) delivery technology used in Moderna's COVID-19 vaccines.

Under the settlement terms, Moderna will pay $950 million upfront in July 2026. An additional $1.3 billion payment is contingent upon a favorable appellate ruling regarding whether Section 1498 of federal law bars the patent claims against Moderna, except for doses provided to U.S. government employees.

The settlement requires Moderna to accept a court judgment of patent infringement and no invalidity on four Genevant and Arbutus patents. In exchange, Genevant will grant Moderna a global non-exclusive license to its LNP delivery technology for infectious disease applications and provide a covenant not to sue for certain patents and products.

The agreement resolves all U.S. and international enforcement actions against Moderna regarding unauthorized use of the LNP technology in its Spikevax COVID-19 vaccine. However, litigation against Pfizer and BioNTech continues, with their Comirnaty vaccine representing approximately two-thirds of global COVID-19 mRNA vaccine sales.

Roivant's board approved a $1 billion share repurchase program, which includes a previously authorized $500 million program from June 2025. The company stated this settlement validates its intellectual property portfolio and provides significant near-term cash flow.

The companies filed details of the settlement agreement in a Form 8-K with the Securities and Exchange Commission on March 3, 2026. Roivant scheduled an investor conference call for the same day to discuss the settlement terms.

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