LSE announcement -- GlaxoSmithKline plc (LSE/NYSE: GSK) and Vir
Biotechnology, Inc. (Nasdaq: VIR) today 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.
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 COVID-19 pandemic
and future outbreaks. The companies will leverage GSK’s expertise
in functional genomics and combine their capabilities in CRISPR
screening and artificial intelligence 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.
Dr. Hal Barron, Chief Scientific Officer and President R&D,
GSK, said: “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.”
Due to the urgent patient need for COVID-19 solutions, the
initial focus of the collaboration 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
neutralising SARS-CoV-2 in live virus-cellular assays. Subject to
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 utilise Vir’s CRISPR screening and
machine learning approach to identify cellular targets whose
inhibition can prevent viral infection. Vir has identified multiple
potential targets against flu and other respiratory pathogens, as
well as hepatitis B virus, and will now focus on SARS-CoV-2.
Additionally, the companies have also agreed to conduct research
into SARS-CoV-2 and other coronavirus vaccines by coupling GSK’s
vaccines technologies and expertise with Vir’s ability to identify
neutralising epitopes that are present across entire viral
families. These efforts will be additive to other initiatives GSK
is advancing to develop a potential vaccine for COVID-19.
George Scangos, Ph.D., CEO, Vir Biotechnology, said: “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.”
In addition, to gain 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.
The equity investment and collaboration agreement will complete at
the same time and are conditional upon customary conditions
including regulatory review by the appropriate regulatory agencies
under the Hart-Scott-Rodino Act.
About Vir’s Antibody PlatformVir has a robust
method for capitalizing on unusually successful immune responses
naturally occurring in people who are protected from, or have
recovered from, infectious diseases. The platform is used to
identify rare antibodies from survivors that have the potential to
treat and prevent rapidly evolving and/or previously untreatable
pathogens via direct pathogen neutralization and immune system
stimulation. Vir engineers the fully human antibodies that it
discovers to enhance their therapeutic potential. This platform has
been used to identify and develop antibodies for pathogens
including Ebola (mAb114, currently in use in the Democratic
Republic of Congo), hepatitis B virus, influenza A, SARS-CoV-2,
malaria, and others.
About Vir’s Innate Immunity Platform Using
CRISPR-based functional genomics, computational biology and machine
learning, Vir identifies key host factors necessary for a
pathogen’s survival and the protective effects of the innate immune
system. Vir then identifies product candidates that may be able to
safely target host proteins to block pathogen replication or induce
innate immunity to control infection.
About Vir Biotechnology Vir Biotechnology is a
clinical-stage immunology company focused on combining immunologic
insights with cutting-edge technologies to treat and prevent
serious infectious diseases. Vir has assembled four technology
platforms that are designed to stimulate and enhance the immune
system by exploiting critical observations of natural immune
processes. Its current development pipeline consists of product
candidates targeting hepatitis B virus, influenza A, SARS-CoV-2,
human immunodeficiency virus, and tuberculosis. For more
information, please visit www.vir.bio.
About GSK GSK is a science-led global
healthcare company with a special purpose: to help people do more,
feel better, live longer. For further information please visit
www.gsk.com/about-us.
GSK enquiries: |
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UK Media enquiries: |
Simon Steel |
+44 (0) 20 8047 5502 |
(London) |
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Tim Foley |
+44 (0) 20 8047 5502 |
(London) |
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US Media enquiries: |
Kristen Neese |
+1 804 217 8147 |
(Philadelphia) |
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Kathleen Quinn |
+1 202 603 5003 |
(Washington DC) |
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Analyst/Investor enquiries: |
Sarah Elton-Farr |
+44 (0) 208 047 5194 |
(London) |
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Danielle Smith |
+44 (0) 20 8047 0932 |
(London) |
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James Dodwell |
+44 (0) 20 8047 2406 |
(London) |
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Jeff McLaughlin |
+1 215 751 7002 |
(Philadelphia) |
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Frannie DeFranco |
+1 215 751 4855 |
(Philadelphia) |
Vir Biotechnology enquiries:
Investors Neera Ravindran, MD Head of Investor
Relations & Strategic Communications
nravindran@vir.bio+1-415-506-5256 |
Media Lindy Devereux Scient PR
lindy@scientpr.com+1-646-515-5730 |
Cautionary statement regarding forward-looking
statementsGSK cautions investors that any forward-looking
statements or projections made by GSK, including those made in this
announcement, are subject to risks and uncertainties that may cause
actual results to differ materially from those projected. Such
factors include, but are not limited to, those described under Item
3.D “Risk Factors” in the company's Annual Report on Form 20-F for
2019.
Registered in England & Wales:No.
3888792
Registered Office:980 Great West RoadBrentford,
MiddlesexTW8 9GS
Vir Forward-Looking StatementsThis press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
“may,” “will,” “plan,” “potential,” “explore,” “promising” and
similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances) are
intended to identify forward-looking statements. These
forward-looking statements are based on Vir’s expectations and
assumptions as of the date of this press release. Each of these
forward-looking statements involves risks and uncertainties. Actual
results may differ materially from these forward-looking
statements. Forward-looking statements contained in this press
release include statements regarding the potential benefits of the
collaboration with GSK, the completion of a definitive
collaboration agreement, the ability to obtain clearance under the
HSR Act and to satisfy the other closing conditions, Vir’s ability
to identify new anti-viral antibodies, the potential neutralizing
effects of VIR-7831 and VIR-7832, the timing of commencement of
clinical trials for VIR-7831 and VIR-7832, the expected benefits of
Vir’s CRISPR screening and machine learning approach, the potential
to prevent viral infection through identification and inhibition of
cellular targets, and Vir’s ability to address the current COVID-19
pandemic and future outbreaks of the disease. Many factors may
cause differences between current expectations and actual results
including unexpected results during clinical trials, challenges in
identifying new anti-viral antibodies, challenges in identifying
and inhibiting cellular targets, difficulties in obtaining
regulatory approval, challenges in accessing manufacturing
capacity, clinical site activation rates or clinical trial
enrollment rates that are lower than expected, changes in expected
or existing competition, delays or disruptions on Vir’s business or
clinical trials due to the COVID-19 pandemic, and unexpected
litigation or other disputes. Other factors that may cause actual
results to differ from those expressed or implied in the
forward-looking statements in this press release are discussed in
Vir’s filings with the U.S. Securities and Exchange Commission,
including the section titled “Risk Factors” contained therein.
Except as required by law, Vir assumes no obligation to update any
forward-looking statements contained herein to reflect any change
in expectations, even as new information becomes available.
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