Vir Biotechnology and Britain's GSK said on Wednesday they planned to seek emergency use authorization (EUA) for their experimental COVID-19 antibody therapy after interim data from a study showed 85% reduction in hospitalization and deaths among patients.

An independent panel recommended stopping further enrolment for the late-stage trial due to evidence of "profound efficacy" of the therapy, Vir and GSK said in a joint statement.

Antibody treatments are designed to decrease the severity of COVID-19 among patients diagnosed with the infection.

Additionally, the companies said a new laboratory study showed the therapy, VIR-7831, was equally effective against the UK, South African and Brazilian variants of the coronavirus.

Vir and GSK announced a partnership last year to research COVID-19 treatments.