Vir Biotechnology, Inc. Receives $240 Million Upfront Payment and $75 Million Equity Investment from Astellas

Published: 2026-04-16 11:22:19 ET VIR

Published on 04/16/2026 at 11:22 am EDT

Vir Biotechnology, Inc. announced that its global collaboration and licensing agreement with Astellas announced on February 23, 2026 has closed following expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The collaboration aims to accelerate the development of VIR-5500, a prostate-specific membrane antigen (PSMA)-targeted, PRO-XTEN dual-masked T-cell engager (TCE) for metastatic prostate cancer. Upon closing, Vir Biotechnology receives a $240 million upfront payment and a $75 million equity investment at a price of $10.36 per share.

The Company will also receive a near-term $20 million milestone payment, will split U.S. profit/loss equally with Astellas (50/50), and is eligible to receive up to an additional $1.37 billion in development, regulatory and sales milestones, along with tiered, double-digit royalties on ex-U.S. net sales. Under the terms of Vir Biotechnology's licensing agreement with Sanofi, a portion of certain collaboration proceeds will be shared with Sanofi.