AbCellera (ABCL) -Discovered Antibody, Bamlanivimab, to be Developed with VIR-7831 for the Treatment of COVID-19

January 27, 2021 7:26 AM EST
Get Alerts ABCL Hot Sheet
Price: $29.10 +2.65%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

AbCellera (Nasdaq: ABCL) today announced that bamlanivimab (LY-CoV555), a human antibody discovered by AbCellera and developed with Eli Lilly and Company (Lilly), will be evaluated together with VIR-7831, an antibody developed by Vir Biotechnology, Inc. (Nasdaq: VIR) and GlaxoSmithKline (NYSE: GSK) , as a potential COVID-19 therapy in low-risk patients with mild to moderate COVID-19. Bamlanivimab is currently a component in all Lilly’s antibody-based COVID-19 therapies, which include bamlanivimab alone, and bamlanivimab and etesevimab together. Lilly will expand the ongoing BLAZE-4 trials to evaluate bamlanivimab together with VIR-7831. Details about Lilly’s trial are available here.

Bamlanivimab is a human antibody that reduces the risk of contracting COVID-19 by up to 80% in people exposed to the virus, prevents COVID-19 related deaths, and reduces hospitalizations by 70%-80% in patients recently diagnosed with mild to moderate COVID-19. Bamlanivimab, which was discovered by AbCellera in March 2020 and reached human clinical trials 90 days later, was granted Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration (FDA) in November 2020.

“To date, more than 100,000 patients have received bamlanivimab, and the data from clinical trials show its use saves lives and prevents hospitalizations,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “Bamlanivimab alone remains an important antibody therapy, and we are pleased it will be evaluated with VIR-7831 to potentially expand the impact of antibody therapies on viral variants.”

To date, bamlanivimab 700 mg has been authorized in the United States, Canada, Germany, Israel, Hungary, United Arab Emirates, Kuwait, Saudia Arabia, and Panama to treat mild to moderate COVID-19 in high-risk patients.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, FDA

Related Entities