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Bill & Melinda Gates Foundation Backs Vir Biotechnology

The Bill & Melinda Gates Foundation is one of the lead backers in a startup, Vir Biotechnology, which is developing cures, treatments, and preventions for challenging infectious diseases. Vir said Friday that it raised $150M in funding from ARCH Venture Partners and the Bill & Melinda Gates Foundation, along with un-named sovereign wealth funds, public mutual funds and individuals and family offices. The company is led by George Scangos, the former CEO of Biogen, and is based in San Francisco.