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GlaxoSmithKline and Vir Biotechnology to expand antibody collaboration
StockMarketWire.com
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Pharmaceutical giant GlaxoSmithKline and Vir Biotechnology have announced they have signed an agreement to expand their existing collaboration to include the research and development of new therapies for influenza and other respiratory viruses.
The collaboration builds on the agreement signed in 2020 to research and develop therapies for coronaviruses and provides GSK exclusive rights to collaborate with Vir on the development of antibodies used to treat influenza.
Dr. Hal Barron, chief scientific officer and President of R&D, GSK , said: I am delighted that we are expanding our collaboration with Vir whose focus on novel antibodies, expertise in functional genomics, unique technology and talented scientists will further strengthen GSK's position as a world leader in infectious diseases.
GSK will make an upfront payment of $225 million, and a further equity investment in Vir of $120 million.
Additionally, if GSK exercises its option to co-develop the antibody treatment, it will pay an option fee of $300 million. GSK will also pay Vir up to $200 million based on the successful delivery of pre-defined regulatory milestones.
At 1:14pm: (LON:GSK) Glaxosmithkline PLC share price was 0p at 1437p
Story provided by StockMarketWire.com
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