SAN FRANCISCO–(BUSINESS WIRE)–Vir Biotechnology, Inc. (Nasdaq: VIR) today announced that for the second consecutive year, the company has been named to the 2023 Deloitte Technology Fast 500™ (the fastest growing technology list). Media, telecommunications, life sciences, fintech and energy technology companies in North America. This is the first time in the 29-year history of the Deloitte Technology Fast 500 program that a company has topped the list for two consecutive years.
The company’s revenue growth from fiscal 2019 to 2022 was driven by global sales of Sotrovimab (Xevudy®), an investigational SARS-CoV-2 neutralizing monoclonal antibody, and its collaboration with Vir’s partner GlaxoSmithKline ( GSK) along with additional contracts, licensing and funding agreements with GlaxoSmithKline and other companies, including Brii Biosciences and the Bill & Melinda Gates Foundation.
“To be ranked No. 1 on the Deloitte Technology Fast 500 list for the second year in a row reflects Vir’s ability to leverage our world-class immunology expertise to engineer human antibodies into very powerful drugs,” said Vir President, Ph.D., MBA executive officer. “The success of this growth is advancing our clinical programs while also strengthening our scientific platform and pipeline so that we can continue to enhance the immune system to transform lives.”
About the 2023 Deloitte Technology Fast 500™
The Deloitte Technology Fast 500, now in its 29th year, provides rankings of North America’s fastest-growing technology, media, telecommunications, life sciences, fintech and energy technology companies, both public and private. Technology Fast 500 winners are selected based on percentage revenue growth from fiscal years 2019 to 2022.
To be recognized on the Technology Fast 500, a company must own proprietary intellectual property or technology, and the products sold to customers must contribute a majority of the company’s operating revenue. The company must have base year operating income of at least $50,000 and current year operating income of at least $5 million. Additionally, the company must be in business for at least four years and be headquartered in North America.
About Sotrovimab
Sotrovimab is an investigational SARS-CoV-2 neutralizing monoclonal antibody developed in collaboration with GlaxoSmithKline (GSK). The antibody binds to an epitope on SARS-CoV-2 that is shared with SARS-CoV-1, the virus that causes SARS. Sotrovimab incorporates Xencor, Inc.’s Xtend™ technology, which is designed to achieve high concentrations in the lungs for optimal penetration into airway tissue affected by SARS-CoV-2 and to extend half-life. Sotrovimab was characterized using Vir’s proprietary mAb discovery platform. Sotrovimab is not currently authorized in the United States.
About Vir Biotechnology
Vir Biotechnology, Inc. is an immunology company focused on combining cutting-edge technologies to treat and prevent infectious diseases and other serious diseases. Vir has assembled two technology platforms designed to stimulate and enhance the immune system by leveraging key observations of natural immune processes. Its current clinical development pipeline includes product candidates targeting hepatitis B, hepatitis D virus and human immunodeficiency virus. Vir has multiple preclinical drug candidates in development, including candidates targeting influenza A and B, COVID-19, RSV/MPV and HPV. Vir frequently posts information on its website that may be important to investors.
forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “plan,” “potential,” “goal,” “expect,” “anticipate,” “hopefully” and similar expressions (as well as references to future events, conditions or (other words or expressions of context) are intended to identify forward-looking statements. These forward-looking statements are based on Vir’s expectations and assumptions as of the date of this press release. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Vir’s strategies , a statement of plans and prospects, Vir’s plans to rapidly advance its pipeline targeting serious infectious diseases and other serious diseases, and expectations regarding the timing of Vir’s plans to develop programs from its hepatitis B and hepatitis delta viruses and human immunodeficiency virus readout data. Many factors could cause differences between current expectations and actual results, including unexpected safety or efficacy data or results observed during clinical trials or data readout; the occurrence of adverse safety events; unexpected Risks of costs, delays or other unexpected obstacles; difficulties in collaborating with other companies; success by Vir’s competitors in developing and/or commercializing alternative product candidates; changes in anticipated or existing competition; geopolitical changes due to the COVID-19 pandemic or other external factors that cause delays or interruptions in Vir’s business or clinical trials; and unexpected litigation or other disputes. Drug development and commercialization involve a high degree of risk, and only a few research and development projects are able to achieve commercialization of products. Results of Early Clinical Trials May not represent full results or results from later-stage or larger clinical trials, and regulatory approval cannot be ensured. You should not place undue reliance on these statements or the scientific data presented. Discussed in Vir’s filings with the Securities and Exchange Commission There are other factors that could cause actual results to differ from those expressed or implied by the forward-looking statements in this press release, including the section titled “Risk Factors” therein. Vir does not undertake to update any forward-looking statements contained herein, except as required by law. obligations to reflect changes in expectations, even if new information becomes available.
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Carly Scaduto
Senior Director of Media Relations
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+1-314-368-5189
investor
Sasha Damuni Ellis
Executive Vice President, Chief Corporate Affairs Officer
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Source: Vir Biotechnology, Inc.