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Vir Biotechnology Provides Corporate Update and Reports Second Quarter 2020 Financial Results
SAN FRANCISCO, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on treating and preventing
About this update from Vir Biotechnology, Inc.
[{"type":"text","content":"SAN FRANCISCO, Aug. 11, 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 second quarter ended June 30, 2020.\n “Our organization is uniquely positioned and working rapidly to address the urgent need for solutions to the global COVID-19 pandemic” said George Scangos, Ph.D., chief executive officer of Vir. “We plan to enter the clinic with VIR-7831 in August and have prepared for success by putting in place multiple manufacturing, development, and commercialization agreements to rapidly provide access if approved. In addition, we have continued to execute on our other pipeline priorities, starting two new hepatitis B trials and preparing to start new influenza A and HIV trials. We also further strengthened our balance sheet through a successful follow-on offering.” Corporate Update SARS-CoV-2 Anticipated Milestones In August, the Company expects to start a Phase 2/3 clinical trial program for VIR-7831, a SARS-CoV-2 neutralizing monoclonal antibody. The Company anticipates that initial clinical data will be available before the end of the year. In vitro, VIR-7831 has demonstrated the ability to neutralize SARS-CoV-2, has a high barrier to resistance, an ability to recruit immune cells to kill already infected cells, and has been designed to achieve high lung tissue concentrations. The Company believes that the combination of these characteristics is essential to achieving maximal clinical efficacy. The clinical program for VIR-7831 includes planned trials for early treatment, hospitalized treatment, and prophylaxis. Because VIR-7831 has been engineered to have extended half-life, it has the potential to provide protection for up to six months.Later this year, the Company expects to start a Phase 2 trial of its other investigational SARS-CoV-2 neutralizing antibody, VIR-7832, which shares the same potentially differentiating characteristics as VIR-7831 but may also function as a therapeutic and/or prophylactic T cell vaccine.By the end of the year, the Company expects to complete preclinical studies of VIR-2703, an inhaled SARS-CoV-2-targeting small interfering ribonucleic acid (siRNA). Collaborations Since April, the Company has continued to build...