- AstraZeneca plc AZN moved to bolster its COVID-19 portfolio of antibodies with a $157 million licensing deal for experimental therapies developed by newly-launched UK-based biotech, RQ Biotechnology Ltd.
- In addition to the initial sum, AstraZeneca will pay possible royalty payments as part of the exclusive license to develop pre-clinical COVID antibodies engineered by RQ Bio. AstraZeneca announced the deal but not its size.
- Also Read: AstraZeneca Clocks Q1 COVID Vaccine Sales Of $1.2B, Keeps Overall FY22 Outlook.
- The antibodies are designed for vulnerable people at risk of severe disease or death from existing, emerging, and new viral infections.
- The deal gives AstraZeneca the rights to develop and sell six antibodies, none of which has been tested in humans so far, RQ Bio CEO Hugo Fry said in an interview with Reuters.
- In lab studies, the antibodies have been shown to work against all known variants, including Omicron, he said.
- Price Action: AZN shares are up 1.75% at $65.62 during the market session on the last check Tuesday.
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