Patent Infringement Lawsuit Archives - Blog | Trademarkmaldives

German Pharmaceutical Company, CureVac, has filed a Patent Infringement Lawsuit against the German Biotechnology Company BioNTech in Germany over its use of mRNA technology. CureVac is now seeking ‘fair compensation’ from BioNTech and two subsidiaries for infringing upon its Intellectual Property Rights (IPRs).

As per several reports, the Chief Executive Officer at CureVac, Franz-Werner Haas, has not ruled out further legal action against mRNA vaccine maker Moderna or BioNTech partner Pfizer.

CureVac believes that its claims to IPRs are based on more than two decades of sincere work and effort on mRNA technology, some of which have been used by BioNTech and Pfizer in the development and sale of their Comirnaty Coronavirus vaccine.

In a recent statement delivered, Haas said that many years of CureVac’s research and development have also contributed well to the success of mRNA vaccines and made the same possible. From his and the entire company’s point of view, it is pretty self-evident to respect the IPRs associated.

Meanwhile, this year, BioNTech expects up to 17 billion euros ($17.5 billion) in vaccine revenue, which is down from the 19 billion revenue of the previous year with the COVID-19 pandemic easing. CureVac said that neither it is seeking an injunction nor taking legal action that would impede the production, sale, or distribution of the vaccine.

Haas said that it would not have occurred to CureVac at the height of the pandemic to point out patent infringement; however, the company believes that there is better control over the pandemic at present and the right time to bring up the issue of patent infringement.

When contacted by the news reporters to talk about the said lawsuit, BioNTech didn’t have any immediate comment.

As of now, Haas is coy about potential further legal action, indicating that in the first place, a basis is needed concerning CureVac’s fair share in product development and sales in Germany and how it would be appropriately valued. When reporters asked whether or not he would rule out legal action against Moderna, Haas said that CureVac is not ruling anything out currently and instead looking at the matter very carefully.

Began in China, the COVID-19 pandemic has killed more than 6.3 million individuals to date and spurred a race amongst the pharmaceutical companies to be the first to come up with a vaccine, with Pfizer and BioNTech dominating in the western world.

After several failed attempts to launch a COVID-19 vaccine to the market last year, CureVac escalated its work and effort with partner GSK on improved vaccine versions.

This year in April, GSK and CureVac said that their second-generation vaccine version, which targets two recent COVID-19 variants, is highly effective in pre-clinical studies on mice. For more visit: https://www.trademarkmaldives.com

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PayRange Inc., which is a network for day-to-day purchases, has quite recently filed a lawsuit against KioSoft Technologies LLC, a technology leader in the payments industry since 2002, alleging Patent Infringement. Consequently, PayRange is now looking forward to seeking damages estimated to be over $50 million, along with a permanent injunction barring further infringing sales.

Established and founded in 2013, PayRange proactively developed the original mobile payment system for use in non-networked unattended retail machines, including amusement, laundry, and vending. The company efficiently protects its innovative technology, creative works, and Intellectual Property (IP) portfolio with 18 patents and even more than 35 pending Patent Applications.

At present, PayRange is the market share leader having millions of users and hundreds of thousands of deployed machines. On the other hand, KioSoft Technologies sells mobile payment solutions unlawfully by infringing upon PayRange’s patented technology. PayRange’s patents cover a wide variety of innovations, including the foundational approach of authorizing payment to unconnected machines leveraging the user’s smartphone, firmware updating of offline machines, viewing machine status on smartphones, and retrofitting existing machines along with payment acceptance devices.

Paresh Patel – the founder and CEO of PayRange, has stated in the lawsuit that his company has invested tens of millions of dollars in both research and development for bringing to market the solutions that have revolutionized the industry. He further said that his company shall always vigorously protect its investment to prevent the competitors from selling infringing products.

PayRange’s counsel on this matter, Wilson Sonsini Goodrich & Rosati, filed the Patent Infringement Lawsuit against KioSoft by stating that the company disregarded PayRange’s Patent Rights blatantly by attempting to encroach upon PayRange’s customers with a solicit new business and copycat product. Now, PayRange is looking forward to seeking recovery of damages, which may even exceed $50 million as per the lost profits, royalties, or price erosion, along with a permanent injunction for preventing KioSoft from continuing future infringement by selling, maintaining, and supporting copycat products, for instance, mobile apps.

Founded by Paresh Patel, a veteran of the automated retail industry, PayRange provides operators and customers with convenient and secure mobile payment and loyalty solutions for amusement, laundry, and vending. With even more than 3 million users and a network of machines throughout 350 cities and towns in the US and Canada, PayRange is currently the North American leader in mobile payments for unattended retail. For more visit: https://www.trademarkmaldives.com