USA chooses Vir to help prepare for future infectious diseases
The US Government has expressed a vote of confidence in Vir Biotechnology (Nasdaq: VIR), awarding the company a multi-year contract to advance the development of a full portfolio of innovative medicines.
The investment, which could be worth up to $1 billion, comes via the Biomedical Advanced Research and Development Authority (BARDA), and represents part of the government's attempt to prepare the country for future pandemics.
Vir will use its technologies and know-how to prepare a pipeline of solutions for both flu and other infectious diseases, with an initial investment of $55 million being used to speed up development of VIR-2482.
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