Deal Watch: Lilly, AbCellera Partner To Attempt Rapid COVID-19 Antibody Development
Partnership will combine AbCellera’s screening of antibodies to the virus with Lilly’s development, commercial capabilities. Vir adds Biogen tie-up to its ongoing coronavirus efforts.
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Analysts called the interim data from a Phase II study of LY-CoV555 mixed, but Lilly insists that it has demonstrated a therapeutic role for neutralizing antibodies in fighting the novel coronavirus.
The pharma saw a $250m revenue increase due to inventory stockpiling and early prescription renewals, but its therapies outside cancer and diabetes may suffer in the coming quarters due to COVID-19.
Vir began pursuing immunological approaches to infectious diseases three years before its COVID-19 work. Its hepatitis B, flu and HIV clinical trials are delayed about six months due to coronavirus-related issues.