AstraZeneca announces that its biotechnology and development subsidiary, MedImmune, will split six molecules among its early-stage programs, which will be grouped together in a new independent biotechnology company called Viela Bio.
Viela Bio funds
The new company’s CEO will be the Head of MedImmune’s medical unit that treated problems like respiratory, autoimmune, anti-inflammatory, and innovative medicines, Dr. Bing Yao.
Viela Bio will be financed by a consortium of investors with up to $250 million, but the UK pharmaceutical company will still be its largest minority shareholder.
Among the other shareholders, there are Boyu Capital, Sirona Capital, Temasek, Hillhouse Capital, and 6 Dimensions Capital.
What will Viela Bio work on?
Viela Bio will be an autonomous biotechnology corporation which will focus on autoimmune diseases treatments and anti-inflammatory medications.
More specifically, the newly incorporated Viela Bio will focus on the development of drugs for severe autoimmune diseases, such as inebilizumab which is currently in phase II trial for the treatment of optic neuromyelitis.
“We are launching Viela Bio with a strong investor backing and a very robust pipeline with multiple novel molecules in inflammation and autoimmunity,” stated Dr. Yao, the very first CEO of Viela Bio.
What do the shareholders think about investing in Viela Bio?
Leon Chen, CEO at 6 Dimension Capital – “Viela Bio has been formed with a best-in-class biologics pipeline (…) 6 Dimensions Capital is confident that those innovative programs will be advanced further, driven by experienced scientific and business leaders.”
Michael Yi, Hillhouse Capital – “We are glad to be partners with a highly innovative biotech company, grown from world-class pharmaceutical roots. Hillhouse Capital is excited for the opportunity to work with the exceptional management team at Viela Bio to revolutionize the treatment of autoimmune diseases.”
Yanling Cao, Boyu Capital – “We are very pleased to become an important shareholder of Viela Bio and excited about the company’s innovative therapeutics for autoimmune diseases. With its strong pipeline and world-class management team, we are highly confident that Viela Bio will soon bring novel therapies to patients around the world.”
Erin VanDyke lives on her family farm and has more than 35 years of hands-on experience with the use of livestock guard dogs for predator control. On their farm, Jan and her family use corgis as herding dogs and have raised Shetland sheep, Fainting goats, Morgan and Trakehner horses, and historic breeds of chickens and turkeys. Erin is also an active beekeeper.