Viela Bio announced today that it has incorporated as an independent, inflammation – and autoimmunity focused biotechnology company after separating from MedImmune, the global biologics research and development arm of AstraZeneca. 

Viela Bio will primarily focus on developing medicines for severe autoimmune diseases by targeting critical pathways that are the root cause of the diseases. 

Bing Yao, Ph.D., formerly senior vice president, head of MedImmune’s Respiratory, Inflammation & Autoimmunity Innovative Medicines unit, will become chief executive officer. He boasts more than 20 years’ experience in the biopharmaceutical industry.

The newly independent company raised the Series A round of up to $250 million co-led by 6 Dimensions Capital, Boyu Capital and Hillhouse Capital, with participation from Temasek and Sirona Capital. AstraZeneca will remain the largest minority shareholder of Viela Bio.

MedImmune will contribute three clinical and three preclinical potential new medicines to Viela Bio, including inebilizumab, currently in Phase II development. Viela Bio will use the proceeds from the initial financing to deliver the Phase II study of inebilizumab, efficiently develop the early-stage portfolio, and continue exploring existing and novel pathways for next-generation inflammation and autoimmune therapy. 

“We are launching Viela Bio with a strong investor backing and a very robust pipeline with multiple novel molecules in inflammation and autoimmunity,” said Dr. Yao. “This is combined with a strong, expanding team that has in-depth scientific and clinical development expertise, and the ability to bring important, innovative medicines to patients.”