UPDATE 1-Bristol-Myers, Rockefeller University join hands to develop COVID-19 therapy

(Adds deal details, background)

Feb 3 (Reuters) - Drugmaker Bristol-Myers Squibb Co will globally develop, make and sell a therapy being tested by New York’s Rockefeller University to treat COVID-19, the company said on Wednesday.

The university has developed a combination monoclonal antibody treatment that neutralizes SARS-CoV-2, the virus responsible for COVID-19.

Pre-clinical data showed the combination therapy could enable effective treatment against multiple variants of the virus, the company said.

An early-stage trial was started by the university in mid-January to assess the safety of the therapy.

The university is entitled to receive royalty payments on future sales under the terms of agreement. (Reporting by Trisha Roy in Bengaluru; Editing by Shinjini Ganguli and Saumyadeb Chakrabarty)