Feb. 17 Quick Takes: Vir, GSK expand partnership; plus Nektar; ImmuneID, Imcyse, Provention-Huadong and Novartis-Gates
Under a three-year deal, which builds on a 2020 agreement to develop therapies for coronaviruses, GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) gained exclusive rights to collaborate with Vir Biotechnology Inc. (NASDAQ:VIR) on mAbs, including VIR-2482, to prevent or treat influenza. GSK has an exclusive option to co-develop VIR-2482 for a $300 million option exercise fee after Vir reports Phase II data on the universal prophylactic for influenza A; and will share development costs for all other mAbs under the deal.
GSK will make an upfront payment of $225 million and a $120 million equity investment; Vir is eligible for $200 million in milestones, and the companies will share profits. The companies will also expand their functional genomics collaboration to develop pan-coronavirus therapeutics, and partner to develop up to three neutralizing mAbs identified using Vir’s antibody platform to target non-influenza pathogens. ...