Vir Biotechnology is a San Francisco-based biotech that developed the COVID-19 monoclonal antibody sotrovimab in collaboration with GlaxoSmithKline. The U.S. government has been buying sotrovimab to fight the Omicron variant. Vir plans to extend its therapeutic-antibody approach to infectious diseases including HIV and malaria. The new initiative includes a clinical trial to test whether therapeutic antibodies can durably suppress HIV in a vaccine-like way. The Bill & Melinda Gates Foundation committed $40 million in equity and $10 million in grant funding to support development. Vir was co-founded by Fred Hutchinson Cancer Research Center investigator Larry Corey. Vir Biotechnology develops antibody-based therapeutics and vaccines using a proprietary monoclonal antibody platform alongside CRISPR screening and machine-learning approaches to identify antiviral targets. The company is collaborating with GlaxoSmithKline to research and develop solutions for coronaviruses, including SARS-CoV-2. Initial collaboration work will accelerate specific antibody candidates VIR-7831 and VIR-7832, which have shown high affinity for the SARS-CoV-2 spike and potent neutralization in live virus assays, with plans to proceed directly into a phase 2 trial within three to five months following regulatory review. Vir will also apply its CRISPR screening and AI to identify cellular host targets and has previously identified multiple potential targets against flu, other respiratory pathogens, and hepatitis B. The partnership couples GSK's functional genomics and vaccine expertise with Vir's antibody and epitope identification capabilities. Financially, GSK agreed to make a $250 million equity investment in Vir priced at $37.73 per share, a 10% premium to the March 27, 2020 closing price, and the investment and collaboration are conditional on customary closing conditions. Vir Biotechnology launched to develop cures, treatments and preventions for challenging viral and bacterial diseases by applying breakthroughs in immune programming. The company intends a multi-program, multi-platform approach, combining internal research with in-licensing of innovative technology platforms and clinical assets. Leadership includes CEO George Scangos and Chairman Vicki Sato, supported by a scientific advisory board of noted researchers. Vir said its laboratory work is expected to take place in San Francisco, Boston and Portland, Oregon. The company was created by ARCH Venture Partners and will be supported by a consortium of long-term investors, including the Bill & Melinda Gates Foundation, sovereign wealth funds, public mutual funds, and prominent individuals and family offices. ARCH Venture Partners co-founder Robert Nelsen led Vir’s formation and ARCH has committed significant capital to the company.

Total raised

$300M

Funding rounds

4

Latest round

Grant

Latest activity

Jan 2022