By Kimberly Chin

AbCellera Biologics Inc. reported positive results for an advanced trial of its Covid-19 combination treatment, as the company seeks to expand its antibody therapy globally.

The Vancouver, Canada-based biotechnology firm, alongside its partner Eli Lilly & Co., said their bamlanivimab (LY-CoV555) treatment in combination with etesevimab reduced hospitalizations and deaths in Covid-19 positive patients at high risk by 87% compared with a placebo, the company said.

This was the second Phase 3 trial of the combination treatment with positive results, AbCellera said.

The study's results support the use of its combination antibody therapy, adding to its safety and efficacy profile, the company said. AbCellera's Covid-19 treatment was granted emergency-use authorization by the U.S. Food and Drug Administration and given a positive scientific opinion by the European Medicine Agency's committee that evaluates such treatments for human use.

AbCellera's shares rose 5.3% to $32.28 Wednesday.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

March 10, 2021 12:17 ET (17:17 GMT)

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