AstraZeneca spins out new autoimmune company called Viela Bio
MedImmune, the biologics arm of UK-based AstraZeneca (LSE: AZN), is putting six molecules from its early-stage inflammation and autoimmunity programs at the heart of a newly formed company, called Viela Bio.
The spinout will be funded initially with up to $250 million from a consortium of investors led by Boyu Capital, 6 Dimensions Capital, and Hillhouse Capital.
AstraZeneca will remain the largest minority shareholder of the firm, which will be based in Maryland, USA.
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