Vir Biotechnology (NASDAQ:VIR) has signed a letter of intent with Biogen (NASDAQ:BIIB) for the development and clinical manufacturing of human monoclonal antibodies for the potential treatment of COVID-19.
Due to the present level of urgency, work has
begun while a formal agreement is being negotiated. Contingent on the
consummation of the deal, Biogen will continue cell line development,
process development and clinical manufacturing aimed at advancing Vir’s
proprietary antibodies.
Vir says it has identified “a number” of
monoclonals that bind to SARS-CoV-2 that have been isolated from people
who survived a SARS infection.
VIR is up 27% premarket while BIIB is down 5%, both on light volume.
https://seekingalpha.com/news/3551009-vir-biotech-up-27-premarket-on-covidminus-19-deal-biogen
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