Vir Biotech inks broad coronavirus partnership with Glaxo

Vir Biotechnology (NASDAQ:VIR) discloses that, on June 9, it inked a collaboration agreement with GlaxoSmithKline (NYSE:GSK) aimed at developing and commercializing products for the prevention, treatment and prophylaxis of SARS-CoV-2-related diseases.

The partnership will focus on three principal programs: antibodies targeting the virus, vaccines and products based on CRISPR screening of host targets expressed in connection to exposure to SARS-CoV-2. All three include the possibility of including other coronaviruses.

For the next four years, the companies will conduct R&D activities under mutually agreed plans and budgets for each of the three programs. Subject to an opt-out mechanism, the parties will share development, manufacturing and commercialization costs. Specifically, VIR will be responsible for 72.5% of the costs of the antibody program, 27.5% of the costs of the vaccine program and 50% of the costs of the functional genomics program.

GSK will lead commercialization globally. VIR has the right to co-promote antibody products in the U.S. on a case-by-case basis.

The agreement will remain in place as long as a collaboration product is being developed or commercialized by the lead party.

https://seekingalpha.com/news/3583210-vir-biotech-inks-broad-coronavirus-partnership-glaxo