Pharma giant GSK takes $250m stake in firm to develop coronavirus vaccine
Pharmaceuticals giant Glaxosmithkline (GSK) has taken a $250m (£202.7m) stake in an American biotech company in a collaborative effort to make a vaccine for Covid-19.
Vir Biotechnology, of which GSK now owns a 6 per cent stake, specialises in the treatment of severe infectious diseases, and is looking to develop an antibody treatment for the new coronavirus.
The deal is the latest move that GSK has made, having already joined forces with the Coalition for Epidemic Preparedness Innovations and Chinese firm Clover Biopharmaceuticals to develop a vaccine.
Vir’s approach, which differs from plasma therapy that involves giving newly infected patients the blood component that carries antibodies, lets it select the best antibodies out of the plasma, and makes it more convenient to administer.
Chief executive George Scangos explained: “We are transferring antibodies that recovered patients have made, that have presumably helped them recover, to new patients”.
Experts have said it may take between 12 and 18 months to fully develop a vaccine.
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Cowen analyst Phil Nadeau said that the choice of Vir by GSK was encouraging, saying that the combination of the two firm’s expertise should accelerate the collaborative process.
Initially, the partnership will focus on two antibodies developed from a patient suffering with SARS, another respiratory disease.
If successful, the firms plan to move to a clinical trial within three to five months.
Hal Barron, GSK’s chief science officer, 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.”