Partner Concludes Moderna Patent Lawsuit, Executives Sell Shares Worth $5 Million

Roivant Sciences Ltd. (NASDAQ: ROIV)’s subsidiary Genevant Sciences and its partner Arbutus Biopharma on March 3 signed an agreement with Moderna to settle global patent disputes over mRNA vaccines, including the COVID-19 vaccine Spikevax, for up to $2.25 billion (approximately KRW 3 trillion). Under the deal, Moderna will make a one-time payment of $950 million (about KRW 1.2 trillion) by July 8, 2026, and has agreed to pay up to an additional $1.3 billion (about KRW 1.7 trillion) contingent on the outcome of any future litigation or appeals related to doses supplied to the U.S. government. All related lawsuits in the U.S., Canada and Europe will be withdrawn, and the parties will grant each other broad patent licenses and mutual releases.

On March 17, Eric Benker, President of Roivant and CEO of ImyunoVant, exercised stock options to acquire 200,000 common shares and immediately sold the same number at roughly $28 per share, netting about $5.65 million (roughly KRW 7 billion). After the transaction, his direct holdings of Roivant common shares fell from 1,847,546 to 1,647,546 shares; he retains options to purchase an additional 200,000 shares.

Roivant’s stock price recently climbed into the $29 range—an all-time high since its listing—driven by the Genevant-Moderna settlement and the news that its lead pipeline candidate, brepocitinib, received priority review for dermatomyositis. The company also announced plans to raise approximately $550 million (about KRW 700 billion) and to launch a share repurchase program of up to $1 billion (about KRW 1.3 trillion) to further strengthen its pipeline.

Roivant is a U.S.-based biotech firm developing drug candidates across autoimmune disorders, ophthalmic diseases, liver diseases and pulmonary arterial hypertension through a network of subsidiaries and joint ventures. Genevant Sciences, its core subsidiary, holds a portfolio of lipid nanoparticle delivery technology patents used in mRNA vaccines and gene therapies.