GlaxoSmithKline has signed an agreement with Vir Biotechnology to expand their Covid-19 collaboration to advance new therapeutics for influenza and other respiratory viruses.
The company stated that the latest move builds on the agreement signed by the companies last year to research and develop therapies for coronaviruses.
The deal provides GlaxoSmithKline with exclusive rights to collaborate with Vir for the development of potential monoclonal antibodies (mAbs) to prevent or treat influenza.
The company stated that it will have the exclusive option to co-develop VIR-2482, an intramuscularly administered investigational mAb, following the completion and submission of Phase 2 trial outcomes by Vir.
GlaxoSmithKline chief scientific officer and president Hal Barron said: “We believe, now more than ever, that it is very important to develop new therapies to treat and ideally prevent infectious diseases.
“I am delighted that we are expanding our collaboration with Vir whose focus on novel antibodies, expertise in functional genomics, unique technology and talented scientists will further strengthen GSK’s position as a world leader in infectious diseases.”
As per the terms of the deal, Vir will receive an upfront payment of $225m from GlaxoSmithKline and will also make an equity investment of $120m.
Vir will also receive up to $200m payment from GlaxoSmithKline depending on the successful delivery of pre-defined regulatory milestones.
Additionally, the two companies will also engage in two additional research programmes.
The first is to develop potential pan-coronavirus therapeutics.
The second programme is to develop up to three neutralising mAbs to target non-influenza pathogens during a three-year research period.