AstraZeneca spins out 6 drugs and an R&D group into Viela Bio, which emerges with a pivotal program and $250M
AstraZeneca $AZN has culled its pipeline of preclinical through mid-stage anti-inflammatory/autoimmune drugs at its big MedImmune subsidiary in Gaithersburg, MD and spun out six programs into a new startup called Viela Bio.
Viela springs into existence today with the support of a group of three marquee Chinese investors who have put up $250 million to get the company established and keep all its programs moving forward uninterrupted. And AstraZeneca is retaining the largest single minority stake in the company as it bids farewell to a group of investigators who have directed this work inside MedImmune for years.
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