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4/6/2020, 3:39 PM (Source: TeleTrader)
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GSK, Vir Biotechnology join forces on coronavirus treatment

GlaxoSmithKline plc (GSK) said on Monday it signed a partnership agreement with Vir Biotechnology, Inc. to work together on finding a treatment for the coronavirus.

"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," GSK stated.

The British pharma giant added it will invest $250 million in Vir as part of the agreement.

Baha Breaking the News (BBN) / NP