AbCellera and Moderna team up to develop antibody therapies

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Walmart pharmacist holds a vial of the Moderna coronavirus disease (COVID-19) vaccine inside a Walmart department store in West Haven, Connecticut, U.S., February 17, 2021. REUTERS/Mike Segar/File Photo

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Sept 15 (Reuters) - Peter Thiel-backed AbCellera Biologics Inc (ABCL.O) said on Wednesday it had entered a multi-year agreement with COVID-19 vaccine maker Moderna Inc (MRNA.O) to develop antibody therapies for multiple diseases.

The biotech company said Moderna would have rights to develop and sell the antibodies, based on its mRNA technology, resulting from the collaboration.

AbCellera will receive research payments and is eligible to receive milestone payments as well as royalties on the sales of the antibodies, it said.

Last year, AbCellera partnered with drugmaker Eli Lilly and Co (LLY.N) to develop antibody products for the treatment and prevention of COVID-19.

The companies co-developed bamlanivimab, an antibody which is currently being used with a second Lilly antibody called etesevimab to treat mild to moderate COVID-19.

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Reporting by Amruta Khandekar; Editing by Amy Caren Daniel

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