AstraZeneca has announced that MedImmune, its biologics research and development arm, will spin out a new, independent biotech company named Viela Bio, which will focus on developing medicines for severe autoimmune diseases, according to a press release.
The new company will start with three clinical and three preclinical potential new medicines — all molecules from MedImmune’s early-stage inflammation and autoimmunity programs. In addition, it will be funded with up to $250 million from a consortium of investors led by Boyu Capital, 6 Dimensions Capital and Hillhouse Capital, with
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