MedImmune will create a standalone company for early-stage inflammatory and autoimmunity biologics.
Here are five things to know.
1. MedImmune is the global biologics research and development arm of AstraZeneca. MedImmune's new company Viela Bio will focus on developing medicines for severe autoimmune diseases by targeting the underlying causes of each disease.
2. MedImmune will contribute three clinical and three pre-clinical potential new medicines, including inebilizumab, which is 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. The FDA granted it orphan drug designation in 2016.
3. Bing Yao, PhD, currently the head of MedImmune's Respiratory, Inflammation & Autoimmunity Innovative Medicines unit, has been named Viela Bio's CEO. The current vice president of RIA Clinical Development Jorn Drappa, MD, PhD, was appointed as head of research and development and CMO at Viela Bio.
4. Viela Bio will be based in Gaithersburg, Md., and funded 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 Viela Bio.
5. This transaction does not include anifrolumab, in late-stage Phase III development by AstraZeneca for lupus treatment.
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