Astrazeneca's Arm to Create Company For Inflammation And Autoimmunity Biologics

Pharma giant, AstraZeneca, has announced that its biologics R&D arm, MedImmune, is spinning out six molecules from its early-stage inflammation and autoimmunity programmes into an independent biotech company, Viela Bio. The new company will focus on developing medicines for severe autoimmune diseases by targeting the underlying causes of each disease.

MedImmune will contribute three clinical and three pre-clinical potential new medicines. This includes inebilizumab, currently in Phase II trial development for the treatment of neuromyelitis optica, a rare condition that affects the optic nerve and spinal cord in approximately five in 100,000 people.

Viela Bio will be based in Gaithersburg, Maryland (USA). It will be funded with up to $250-mn from a consortium of investors led by Boyu Capital, 6 Dimensions Capital, and Hillhouse Capital. AstraZeneca will remain the largest minority shareholder of Viela Bio. This transaction does not include anifrolumab, in late-stage Phase III development by AstraZeneca for the treatment of lupus, a chronic, severe autoimmune disease.