- GlaxoSmithKline said it was planning to team up with rival pharmaceutical company Sanofi to develop a vaccine for Covid-19.

The two companies had signed a letter of intent to enter into a collaboration, which would involve GlaxoSmithKline providing pandemic adjuvant technology.

Sanofi would contribute a S-protein Covid-19 antigen, which was based on recombinant DNA technology.

The use of an adjuvant could reduce the amount of vaccine protein required per dose, allowing more vaccine doses to be produced.

The companies said they planned to initiate phase I clinical trials in the second half of 2020 and, if successful and subject to regulatory considerations, aimed to complete the development required for availability by the second half of 2021.

At 1:13pm: [LON:GSK] Glaxosmithkline PLC share price was +20p at 1564.2p

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