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Vir Biotechnology Provides Corporate Update and Reports Fourth Quarter and Full Year 2019 Financial Results
SAN FRANCISCO, March 26, 2020 (GLOBE NEWSWIRE) -- Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on treating and
About this update from Vir Biotechnology, Inc.
[{"type":"text","content":"SAN FRANCISCO, March 26, 2020 (GLOBE NEWSWIRE) -- Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on treating and preventing serious infectious diseases, today provided a corporate update and reported financial results for the fourth quarter and full year ended December 31, 2019.\n “2019 was a very successful year of growth and progress for Vir, as we expanded our clinical and preclinical pipeline, built a robust research engine around our multiple platforms for fighting infectious disease, and completed an initial public offering,” said George Scangos, Ph.D., Chief Executive Officer of Vir. “In 2020, the value of our multi-platform approach has become evident as we rapidly execute our scientific strategy in pursuit of therapies for the COVID-19 pandemic, while simultaneously maintaining sharp focus on our ongoing programs in hepatitis B, influenza A, and HIV.” Corporate Updates Yesterday, the company announced that it has identified multiple human monoclonal antibody development candidates that neutralize SARS-CoV-2, the virus responsible for COVID-19. Its lead development candidate was transferred at-risk to WuXi Biologics (stock code: 2269.HK) and Biogen Inc. (Nasdaq: BIIB) for manufacturing several weeks ago, and is anticipated to start human trials within 3-5 months. The ability of this antibody to neutralize the SARS-CoV-2 live virus has been confirmed in two separate laboratories. The antibody binds to an epitope on SARS-CoV-2 that is shared with SARS-CoV-1 (also known as ‘SARS’), indicating that the epitope is highly conserved. The company believes that the conservation of this epitope will make it more difficult for escape mutants to develop. Vir is advancing two versions of its lead development candidate into clinical testing. Both versions will be half-life engineered in order to potentially extend the time they remain in the body. One will also be modified to potentially immunize against the virus at the same time it treats or prevents infection. This property is known as a vaccinal effect, meaning the antibody may elicit continued immune protection against the virus even after it is no longer present in the body.In February, the company announced a development and manufacturing collaboration with WuXi Biologics to advance and produce human monoclonal antibodies for the potential tr...