NasdaqGS:VIRBiotechs
Vir Biotechnology (VIR) Is Up 19.1% After Astellas Cancer Pact Closes With $315M Inflows
Vir Biotechnology announced that its global collaboration and licensing agreement with Astellas has closed, bringing in a US$240,000,000 upfront payment, a US$75,000,000 equity investment at US$10.36 per share, and near-term and potential milestone payments tied to the development and commercialization of VIR-5500 for metastatic prostate cancer.
At the same time, Vir has begun enrolling an expansion cohort in its Phase 1 trial of VIR-5500 following early safety and anti-tumor signals,...