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Vir Biotechnology ( (VIR) ) has provided an update.
Vir Biotechnology has finalized an exclusive global licensing deal with Sanofi for three potential clinical-stage T-cell engagers and a protease-cleavable masking platform to bolster its oncology and infectious disease treatment portfolio. Vir made an initial payment of $100 million to Sanofi, with future payments that could total over $1.8 billion, plus royalties on sales. The deal, which passed antitrust scrutiny, also brings key Sanofi employees with specialized expertise to Vir. Concurrently, Vir appointed Jason O’Byrne as its new CFO, and Brent Sabatini as the principal accounting officer, strengthening its executive team.
Learn more about VIR stock on TipRanks’ Stock Analysis page.