Eli Lilly and Company (NYSE: LLY), a global healthcare company, has dosed patients in the first study of LY-CoV555 intended to prevent COVID-19, it was reported on Monday.

The product has been developed as a result of the collaboration between Lilly and AbCellera. It is a potent, neutralising IgG1 monoclonal antibody directed against the SARS-CoV-2 spike protein. The first patients have been dosed at major medical centres in the United States, including NYU Grossman School of Medicine and Cedars-Sinai in Los Angeles.

The firm aims to study the drug in a preventative setting, concentrating on vulnerable patient populations who historically are not optimal candidates for vaccines. Should Phase 1 results show the antibody can be safely administered, Lilly expects to move into the next phase of testing, studying LY-CoV555 in non-hospitalised COVID-19 patients.