Vir Biotechnology (Nasdaq: VIR) has amended its research collaboration with GSK to reflect its ongoing efforts to develop next-generation COVID-19 therapies. The former company said it would continue developing COVID-19 therapies alone or in cooperation with other partners.
Vir and GSK will continue collaborating to ensure ongoing access to the monoclonal antibody sotrovimab, where it remains authorized.
Under the revised terms of the agreement, Vir retains exclusive rights to pursue the development of new therapies resulting from the joint coronavirus vaccine and antibody initiatives, with a tiered royalty payment ranging from low to mid-single digits to GSK.
The companies will continue working on sotrovimab (VIR-7831) and VIR-7832, a monoclonal antibody with a dual mechanism of action aimed at the spike glycoprotein of the SARS-CoV-2 virus.
Today, VIR shares held steady, ticking up 0.11% to $26.18. GSK shares were up about 1% to $36.23.
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