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Vir to Acquire Sanofi Assets and Cut 25% of Workforce

Restructuring aims to save approximately $50 million to be invested in the Sanofi assets and includes discontinuing its influenza and COVID-19 programs.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Vir Biotechnology, Inc. has entered into an exclusive worldwide license agreement with Sanofi for three clinical-stage masked T-cell engagers (TCEs) and exclusive use of the protease-cleavable masking platform for oncology and infectious diseases, acquired by Sanofi from Amunix Pharmaceuticals. Sanofi will receive an upfront payment and is eligible to receive future development, regulatory and commercial milestone payments and royalties on sales.    Vir also announced a strategic restructuring...

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