Back to News
Mergers & Acquisitions

GSK Invests in Biotech Developing Covid-19 Treatments

|
Published: June 22nd, 2020
The British drugmaker said it would make an equity investment of $250 million in Vir.

GlaxoSmithKline plc (GSK) said Monday, April 6, it would make an investment in Vir Biotechnology Inc. (VIR) and would collaborate on a possible treatment for Covid-19.

The British drugmaker said it would make an equity investment of $250 million in Vir, which was priced at $37.73 — a 10% premium to the closing price on March 27.

The collaboration will use Vir’s proprietary monoclonal antibody platform technology to accelerate existing and identify new anti-viral antibodies that could be used as therapeutic or preventative options to help address the current coronavirus pandemic and future outbreaks, GSK said.

The collaboration will also utilize Vir’s Crispr, the gene-editing technology, screening and machine learning approach to identify cellular targets whose inhibition can prevent viral infection.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Mergers & Acquisitions

Mergers & Acquisitions

Zoetis' Nayak Talks Animal Health Trends Amid Covid

By Armie Margaret Lee
|
Published: July 7th, 2020
Trends such as the humanization of pets have accelerated amid the Covid-19 crisis, said Abhay Nayak, head of global strategy, commercial development and customer experience at Zoetis.