On Jul. 8, 2020, Kleo Pharmaceuticals announced that it had received a $5 million grant from the Bill & Melinda Gates Foundation to advance the development of Kleoﾒs COVID-19 treatment leveraging its MATEﾙ (Monoclonal Antibody Therapy Enhancers) technology platform to combat the SARS-CoV-2 virus.

Kleo has developed a series of binders that target the Spike protein of SARS-CoV-2 to conjugate with commercially available intravenous immunoglobulin (IVIG) plasma product to create a hyperimmune globulin mimic (HGM) therapeutic.