AstraZeneca creates Viela Bio, new company with 6 investigational drugs and $250m capital

MedImmune, AstraZeneca’s R&D arm, has created a spin-off with 6 research programs for 6 investigational therapies to treat autoimmune diseases. The new spin-off, called Viela Bio, has been armed with an with an initial $250m capital. Its funders are 6 Dimensions Capital, Boyu Capital and Hillhouse Capital. AstraZeneca will remain the largest shareholder of Viela Bio, although it will not have a majority stake in it. Three of VielaBio’s programs are in the pre-clinical stage, whereas the other three are already undergoing clinical trials, such as inebilizumab (Phase II) for neuromyelitis optica (NMO), a rare condition. Viela is headquartered in Gaithersburg, Maryland, its CEO will be Bing Yao, former MedImmune SVP.

(Source: AstraZeneca)