Vir Biotechnology, Inc. (Nasdaq: VIR) today announced it ranked first for the second year in a row on the 2023 Deloitte Technology Fast 500tm, a list of the fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech 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 between fiscal years 2019 and 2022 was fueled by global sales of sotrovimab (Xevudy®), an investigational SARS-CoV-2 neutralizing monoclonal antibody, and was recognized in conjunction with Vir's collaboration partner GSK, as well as additional contract, licensing and grant agreements with GSK and others, including Brii Biosciences and the Bill & Melinda Gates Foundation.
"Ranking number one for the second year in a row on the Deloitte Technology Fast 500 list reflects Vir's ability to leverage our world class immunology expertise to engineer human antibodies into very powerful medicines," said Marianne De Backer, M.Sc., Ph.D., MBA, Vir's Chief Executive Officer. "This growth success is fueling our clinical programs while also strengthening our scientific platforms and pipeline so we can continue to power the immune system to transform lives."
About the 2023 Deloitte Technology Fast 500tm
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies ? both public and private ? in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Sotrovimab is an investigational SARS-CoV-2 neutralizing monoclonal antibody that was developed in collaboration with GSK. The antibody binds to an epitope on SARS-CoV-2 shared with SARS-CoV-1 (the virus that causes SARS). Sotrovimab, which incorporates Xencor, Inc.'s Xtendtm technology, has been designed to achieve high concentration in the lungs to achieve optimal penetration into airway tissues affected by SARS-CoV-2 and to have an extended half-life. Sotrovimab was identified using Vir's proprietary mAb discovery platform. Sotrovimab is currently not authorized in the US.
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 conditions. Vir has assembled two technology platforms that are designed to stimulate and enhance the immune system by exploiting critical observations of natural immune processes. Its current clinical development pipeline consists of product candidates targeting hepatitis B and hepatitis delta viruses and human immunodeficiency virus. Vir has several preclinical candidates in its pipeline, including those targeting influenza A and B, COVID-19, RSV/MPV and HPV. Vir routinely posts information that may be important to investors on its website.
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," "aim," "expect," "anticipate," "promising" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) 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 strategy, plans and prospects, Vir's plans to rapidly advance a pipeline aimed at serious infectious diseases and other serious conditions, and its expectations regarding the timing of planned data readouts from its hepatitis B and hepatitis delta viruses and human immunodeficiency virus development programs. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data or results observed during clinical trials or in data readouts; the occurrence of adverse safety events; risks of unexpected costs, delays or other unexpected hurdles; difficulties in collaborating with other companies; successful development and/or commercialization of alternative product candidates by Vir's competitors; changes in expected or existing competition; delays in or disruptions to Vir's business or clinical trials due to the COVID-19 pandemic, geopolitical changes or other external factors; and unexpected litigation or other disputes. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements, or the scientific data presented. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Vir's filings with the U.S. Securities and Exchange Commission, including the section titled "Risk Factors" contained therein. Except as required by law, Vir assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
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