GSK to acquire a 6% stake in Vir Biotechnology for $250m.

GlaxoSmithKline, a British multinational pharmaceutical company, agreed to acquire a 6% stake in Vir Biotechnology, a clinical-stage immunology company, which develops therapeutic products to treat and prevent serious infectious diseases, for $250m. The companies agreed to enter into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2, the virus that causes Covid-19. "Vir’s unique antibody platform has precedented success in identifying and developing antibodies as treatments for multiple pathogens, and it is highly complementary with our R&D approach to focus on the science of immunology. I am very excited that the talent and passion of our two companies will come together to develop solutions for multiple diseases, including the very promising antibody candidates targeting Covid-19," Hal Barron, GSK Chief Scientific Officer and President R&D.