Biogen and Vir Biotechnology to Collaborate to Find a Treatment for the Coronavirus

COVID-19 continues to spread worldwide. The latest situation report from the World Health Organization (WHO) shows that there are now more than 125,000 confirmed cases of the disease and more than 4,600 deaths. Several biotech companies are racing to find a vaccine or a treatment for the rapidly spreading disease.

One of these companies is Vir Biotechnology (NASDAQ: VIR), which focuses on developing treatments for infectious diseases. Recently, Vir announced it was partnering up with Biogen (NASDAQ: BIIB) to develop and manufacture antibodies that could treat COVID-19. Given the gravity of the situation, the two companies decided to start working on this project while negotiating the terms of the deal. 

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Source Fool.com