Source: AstraZeneca site
AZD 7442 is AstraZeneca's long-acting antibody (LAAB) combination (AZD8895 and AZD1061). According to the company, LAAB's mimic natural anitbodies and will be useful in preventing the progression of patients already infected with the virus as well as a prophylactic agent. LAAB's were discovered by Vanderbilt University Medical Center and licensed to AstraZeneca.
This is especially targeted for people for whom vaccination may not be appropriate. It may also reduce risk for high-risk population. US has funded this program spanning the various phases of study. Phase I was started in August 2020 to assess safety, tolerability and pharmokinetics of this combination in healthy individuals.
It may be noted that, "In a recent Nature publication, the LAABs were shown in pre-clinical experiments to block the binding of the SARS-CoV-2 virus to host cells and protect against infection in cell and animal models of disease."
https://www.nature.com/articles/s41586-020-2548-6
Details of January Phase III trial with 1700 participants are posted details here:
https://www.clinicaltrials.gov/ct2/show/NCT04723394
According to latest news (March 16, 2021), AstraZenca will supply half a million additional doses of anti-body treatement to the US.
Details (must read) here:
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