All entries for: Vir Biotechnology

August 2, 2024

Vir Biotechnology

Discontinued Research, Layoffs

San Francisco, CA

201-500 employees

“As part of its second-quarter business results, Vir revealed that it will no longer be continuing its work in COVID-19 and influenza, while pulling the plug on its T-cell-based viral vector platform. Instead, the biotech will restrict its virology business to its hepatitis B and D programs, allowing it to focus only on the “highest near-term value opportunities.”

“Under Vir’s strategic overhaul, the biotech will lay off 25% of its workforce, eliminating approximately 140 roles across its operations.”

“Vir now expects to close out the year with around 435 employees, which is some 200 employees fewer from its peak headcount in mid-2023.”

3 Discontinued Research Programs: COVID-19, influenza, and T-cell-based viral vector platform research programs.

Disease Area: Antiviral, Multiple, Oncology

Drug Type: Biologic, Small Molecule

October 27, 2023

Vir Biotechnology

Negative Outlook

San Francisco, CA

201-500 employees

“Accordingly, while it is currently unclear how the IRA will be effectuated, we cannot predict with certainty what impact any federal or state health reforms will have on us, but such changes could impose new or more stringent regulatory requirements on our activities or result in reduced reimbursement for our products, any of which could adversely affect our business, results of operations and financial condition.”

Disease Area: Antiviral, Multiple, Oncology

Drug Type: Biologic, Small Molecule

August 3, 2023

Vir Biotechnology

Discontinued Drug, Discontinued Research

San Francisco, CA

201-500 employees

“Vir Biotechnology is narrowing its focus. Sitting on $1.9 billion, the infectious disease specialist has decided to stop work on its innate immunity small-molecule platform as part of its efforts to ‘judiciously allocate’ its capital.

San Francisco-based Vir was already primarily focused on biologics, making its name through work on the anti-SARS-CoV-2 antibody Xevudy and advancing a pipeline featuring other modalities including T-cell vaccines and siRNAs. But small molecules were in the mix, too, with the biotech identifying the modality as part of its plans for a multi-respiratory hepatitis B cure and response to COVID-19…

‘We are taking measures to continuously evaluate and judiciously allocate this capital to maximize value for our shareholders,’ De Backer said. ‘As part of this process and under my leadership, we made the decision to phase out our small molecule platform. This is the first step as we continue to advance our core capabilities and scientific programs.'”

2 Discontinued Drugs: unnamed multi-respiratory hepatitis B drug (small molecule), unnamed COVID-19 drug (small molecule)
2 Discontinued Research Programs

Disease Area: Multiple

Drug Type: Small Molecule