Glaxosmithkline Share News (GSK)

(Sharecast News) - GlaxoSmithKline and Vir Biotechnology will expand their existing collaboration to include the research and development of new therapies for influenza and other respiratory viruses.
Under the terms of the agreement, Glaxo will make an upfront payment of $225m and a further equity investment in Vir of $120m.

The London-listed pharmaceuticals company said the new agreement builds on one signed last year to research and develop therapies for coronaviruses and provides GSK exclusive rights to collaborate with Vir on the development "of potential best-in-class monoclonal antibodies (mAbs) for the prevention or treatment of influenza".

As part of the new collaboration agreement, the companies will also engage in two additional research programmes.

The first is an expansion of their current functional genomics collaboration to develop potential pan-coronavirus therapeutics to now include other respiratory virus targets. The second will see them collaborate to develop up to three neutralising monoclonal antibodies identified using Vir's antibody technology platform to target non-influenza pathogens during a three-year research period.

Dr. Hal Barron, chief scientific officer and president of Research & Development at Glaxo, 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."