Viela Bio Spins Out of MedImmune; Launches with Up to $250 Million Series A Financing from Investor Consortium Led by Boyu Capital, 6 Dimensions Capital, and Hillhouse Capital
Viela Bio team will focus on developing medicines for severe autoimmune diseases by targeting critical pathways that are the root cause of disease
Gaithersburg, MD, February 28, 2018 – Viela Bio announced today that it has incorporated as an independent inflammation- and autoimmunity-focused biotechnology company after spinning out six molecules from MedImmune, the global biologics research and development arm of AstraZeneca. Bing Yao, Ph.D., formerly Head of MedImmune’s Respiratory, Inflammation & Autoimmunity Innovative Medicines unit, becomes Viela’s first Chief Executive Officer.
Viela Bio will be an independent company, funded with up to $250 million from a consortium of investors led by Boyu Capital, 6 Dimensions Capital, and Hillhouse Capital, along with Temasek and Sirona Capital. AstraZeneca will remain the largest minority shareholder of Viela Bio.
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