Vir Biotechnology Up; to Work With Biogen on Antibodies to Potentially Treat Covid-19
March 12 2020 - 1:03PM
Dow Jones News
By Michael Dabaie
Vir Biotechnology Inc. shares were up 10% to $37.06 in
heavier-than-average volume.
Before the market open, the company said it signed a letter of
intent to collaborate with Biogen Inc. on manufacturing of
antibodies to potentially treat Covid-19.
Vir said that because of the urgency of the situation, the
companies have begun work while a clinical development and
manufacturing agreement is being negotiated.
Subject to the completion of a definitive agreement, Biogen
would continue cell line development, process development, and
clinical manufacturing activities in order to advance the
development of Vir's proprietary antibodies.
Vir said it has identified monoclonal antibodies that bind to
SARS-CoV-2, which were isolated from individuals who had survived a
severe acute respiratory syndrome infection. The company said it is
conducting research to determine if its antibodies, or additional
antibodies that it may be able to identify, can be effective as
treatment and prophylaxis against SARS-CoV-2.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 12, 2020 12:48 ET (16:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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