Brii Biosciences Limited announced that the Company is committing an additional investment in an amount of USD 100 million, to advance global regulatory filings and commercial efforts for its investigational SARS-CoV-2 (virus that causes COVID-19) combination therapy, BRII-196/BRII- 198 ("combination BRII-196/BRII-198"). BRII-196/BRII-198 is a SARS-CoV-2 neutralizing monoclonal antibody combination therapy. Interim results from Phase 3 of the NIH-sponsored ACTIV-2 trial recently demonstrated that the combination therapy achieved a statistically significant reduction of 78%, relative risk in the combined endpoint of hospitalization and death compared with placebo in non-hospitalized COVID-19 patients at high risk of clinical progression (nominal one-sided p value = 0.00001). Following a clear demonstration of both clinical and safety outcomes, the independent data safety monitoring board permitted the early release of the interim results while the complete study follow-up remains ongoing. This study was conducted at clinical trial sites around the world, including the United States, Brazil, South Africa, Mexico, Argentina, and the Philippines, with patients enrolled between January and July of 2021 - a period of rapid global emergence of novel SARS-CoV-2 variants. Data on the clinical efficacy of combination BRII-196/BRII-198 by variant type will also be evaluated as part of the study. Current in vitro pseudovirus testing data suggests that combination BRII-196/BRII-198 retains activity against major SARS-CoV-2 variants of concern, including the following commonly identified variants, B.1.1.7 (Alpha), B.1.351 (Beta), P.1 (Gamma), B.1.429 (Epsilon), B.1.617.2 (Delta), and C.37 (Lambda), and B.1.621 (Mu). The above-mentioned additional investment in an amount of USD 100 million will be from the proceeds raised from the pre-IPO investments of the Company undertaken by various investors.