- GlaxoSmithKline and Vir Biotechnology, Inc. announced they have an agreement to enter a partnership to research and develop solutions for coronaviruses. And GSK will be investing $250 million in Vir.
GlaxoSmithKline plc (GSK) and Vir Biotechnology, Inc. announced they have signed a binding agreement to enter into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2 (the virus that causes COVID-19). This collaboration will use
Vir’s proprietary monoclonal antibody platform technology for accelerating existing and identifying new anti-viral antibodies that could be used as therapeutic or preventative options to help address the current COVID-19 pandemic and future outbreaks. And the companies will utilize GSK’s expertise in functional genomics and combine their capabilities in CRISPR screening and AI to identify anti-coronavirus compounds that target cellular host genes. They will also apply their combined expertise to research SARS-CoV-2 and other coronavirus vaccines.
With the urgent need for COVID-19 solutions, the initial focus of the partnership will be to accelerate the development of specific antibody candidates identified by the Vir platform — VIR-7831 and VIR-7832 — that have demonstrated high affinity for the SARS-CoV-2 spike protein and are highly potent in neutralizing SARS-CoV-2 in live virus-cellular assays. Following regulatory review, the companies plan to proceed directly into a phase 2 clinical trial within the next three to five months.
The collaboration will also utilize Vir’s CRISPR screening and machine learning approach for identifying cellular targets whose inhibition can prevent viral infection. Vir has identified multiple potential targets against flu and other respiratory pathogens, as well as the hepatitis B virus, and will now focus on SARS-CoV-2.
The companies have also agreed to conduct research into SARS-CoV-2 along with other coronavirus vaccines by coupling GSK’s vaccine technologies with Vir’s ability in identifying neutralizing epitopes that are present across viral families. And these efforts will be additive to other initiatives GSK is advancing to develop a potential vaccine for COVID-19.
Along with gaining access to Vir’s technology, GSK will make an equity investment in Vir of $250 million (priced at $37.73, a 10% premium to the closing share price on Friday, March 27, 2020). And the equity investment and collaboration agreement will complete at the same time and are conditional upon customary conditions.
Key Quotes:
“Vir’s unique antibody platform has precedented success in identifying and developing antibodies as treatments for multiple pathogens, and it is highly complementary with our R&D approach to focus on the science of immunology. I am very excited that the talent and passion of our two companies will come together to develop solutions for multiple diseases, including the very promising antibody candidates targeting COVID-19.”
-Dr. Hal Barron, Chief Scientific Officer and President R&D at GSK
“It is becoming increasingly clear that multiple therapeutic approaches, used in combination or in sequence, will be necessary to stop this coronavirus pandemic. It is likely that the current coronavirus outbreak will not be the last. These insights are informing our scientific approach and we are pleased to join forces on the execution of this strategy with GSK, who have a like-minded R&D strategy, a deep expertise in vaccines and an impressive global reach to bring medicines to people around the world.”
-George Scangos, Ph.D., CEO of Vir Biotechnology
