(Reuters) – Eli Lilly Co and privately-held AbCellera Biologics Inc on Thursday announced they would co-develop antibody products for the treatment of COVID-19, a flu-like disease caused by the fast-spreading coronavirus.

AbCellera and Lilly have committed to equally share initial development costs towards a product, the companies said.

Lilly will be responsible for all further development, manufacturing and distribution.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Arun Koyyur)

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