GSK Invests in Biotech Developing Covid-19 Treatments
GlaxoSmithKline plc (GSK) said Monday, April 6, it would make an investment in Vir Biotechnology Inc. (VIR) and would collaborate on a possible treatment for Covid-19.
The British drugmaker said it would make an equity investment of $250 million in Vir, which was priced at $37.73 — a 10% premium to the closing price on March 27.
The collaboration will use Vir’s proprietary monoclonal antibody platform technology to accelerate existing and identify new anti-viral antibodies that could be used as therapeutic or preventative options to help address the current coronavirus pandemic and future outbreaks, GSK said.
The collaboration will also utilize Vir’s Crispr, the gene-editing technology, screening and machine learning approach to identify cellular targets whose inhibition can prevent viral infection.
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