Vir Biotechnology (VIR) BofA Securities 2025 Healthcare Conference summary

Strategic focus and clinical pipeline

• Two main areas: infectious diseases (notably hepatitis delta) and oncology, leveraging the immune system to fight disease.

• Lead hepatitis delta program in registrational trials, with first patient dosed in Q1 and strong phase 2 data showing 64% viral clearance after 36 weeks.

• Oncology pipeline includes HER2 and PSMA masked T-cell engagers in phase 1, with HER2 showing 50% tumor shrinkage and 33% partial response in colorectal cancer; PSMA program showed robust PSA responses and favorable safety.

• EGFR-targeted program entering clinic, with first patient dosing planned for this quarter and trial design posted.

Hepatitis delta (HDV) program details

• ECLIPSE registrational program consists of three trials: ECLIPSE 1 (treatment-naive, US focus), ECLIPSE 2 (bulevirtide-experienced, EU focus), and ECLIPSE 3 (head-to-head with bulevirtide for EU pricing/reimbursement).

• ECLIPSE 1 primary completion expected December 2026, with enrollment to finish in 2024.

• Monthly dosing regimen offers superior convenience and efficacy compared to daily bulevirtide, with higher target not detected rates.

• Efforts underway to increase HDV diagnosis rates in the US, including advocacy for reflex testing and awareness campaigns.

• Seeking a commercial partner for ex-US markets to leverage local expertise and infrastructure.

T-cell engager (TCE) platform and oncology pipeline

• ProX10 masking platform enables plug-and-play use across multiple programs, improving efficiency and safety.

• Masking technology extends half-life, allows for flexible dosing schedules (including every three weeks), and reduces immunogenicity.

• HER2 program basket trial shows promising efficacy in heavily pretreated colorectal cancer patients; further data expected as dose escalation continues.

• PSMA program demonstrates strong PSA responses and tumor reduction, with dose selection based on therapeutic index and safety.

• EGFR program targets challenging tumor types with monotherapy and Keytruda combination arms, focusing on indications where PD-1s are approved.