“The litigation between them, including before US courts and the arbitral tribunal in London, has been settled and dismissed,” Emcure said in a statement.
“Gennova and HDT, who previously collaborated on the successful development of Gennova’s mRNA Covid-19 vaccines will once again collaborate on the development and commercialization of mRNA vaccines,” Emcure added.
The parties have entered into a long-term agreement to develop mRNA vaccines against a broad range of infectious diseases, in India and several other countries.
As part of their agreement, HDT has granted a license to Gennova to use HDT’s patented mRNA vaccine technology in multiple fields.
However the relation soured with HDT Bio filed a $950 million lawsuit in May 2020 accusing Gennova and its parent Emcure of stealing trade secrets to develop a Covid-19 vaccine based on RNA platform.“Emcure is delighted that the misunderstanding between us and HDT not only stands resolved but we have widened the scope of our technical collaboration on a long term basis,” Satish Mehta, CEO & managing director of Emcure said.”mRNA platform will be the launching pad for our foray into vaccines for tuberculosis, rabies, dengue and other infectious diseases and our collaboration with HDT will be mutually beneficial,” Mehta added.
“HDT’s proprietary technology, combined with Emcure’s and Gennova’s innovation and manufacturing excellence and established distribution network will bring life-saving vaccines to countless people,” said Steve Reed, CEO of HDT.
“We are committed to a successful relationship with Emcure and Gennova,” Reed added.
Emcure’s subsidiary Gennova had developed mRNA Covid-19 vaccine, which was approved by the Indian regulator for emergency use. Gennova Biopharmaceuticals said its mRNA vaccine can be freeze dried and can be stored at higher temperatures which can solve logistics and pricing issues associated with mRNA vaccine.
Emcure has filed a draft red herring prospectus dated December 16, 2023 (DRHP) with the Securities and Exchange Board of India (“SEBI”) for an initial public offering of its equity shares.
