The Nobel Prize-winning scientific innovation underlying the COVID-19 vaccine proved to be a notable financial boon for the University of Pennsylvania. And now the Ivy League school in West Philly is set to get nearly half a billion dollars more.

Penn has reached an agreement to resolve a dispute over Covid-19 royalties the Philadelphia university alleged it was owed.

German pharmaceutical company BioNTech has agreed to pay a combined sum of more than $1.2 billion to resolve separate disputes over royalty payments related to its COVID-19 vaccine.

BioNTech has entered into two separate settlement agreements with the U.S. National Institutes of Health and the University of Pennsylvania over the payment of royalties related to its COVID-19 vaccine,

BioNTech (BNTX) stock slipped after signing $1B deals with NIH and the University of Pennsylvania to resolve COVID vaccine royalty claims. Read more here.