March 12, 2020 / 10:25 PM / 3 months ago

Eli Lilly, AbCellera Biologics to co-develop coronavirus therapies

FILE PHOTO: The logo and ticker for Eli Lilly and Co. are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid

(Reuters) - Eli Lilly Co and privately-held AbCellera Biologics Inc on Thursday announced they would co-develop antibody products for the treatment of COVID-19, a flu-like disease caused by the fast-spreading coronavirus.

AbCellera and Lilly have committed to equally share initial development costs towards a product, the companies said.

Lilly will be responsible for all further development, manufacturing and distribution.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Arun Koyyur

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