2/17, 1:43 PM (Source: TeleTrader)
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GSK, Vir Biotech expanding cooperation

GlaxoSmithKline plc and Vir Biotechnology Inc. have agreed to expand their joint research and development program to include new treatments for respiratory viruses.

Under the terms of the new deal, GSK will increase its equity investment in the California-based biotech firm by $120 million and make an upfront payment of $225 million. Additionally, Vir could receive up to $200 million based on the successful delivery of pre-defined milestones.

The two companies initially started working together on COVID-19 therapies in April 2020.

Breaking the News / MD