Viela Bio announced today that it has incorporated as an independent, inflammation - and autoimmunity - focused biotechnology company after spinning out 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.

Viela Bio 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. Inebilizumab has received Orphan Drug Designation from both the US Food and Drug Administration and the European Medicines Agency. Inebilizumab is being evaluated for the treatment of neuromyelitis optica (NMO), a rare condition that affects the optic nerve and spinal cord.

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. Viela is based in Gaithersburg, MD.

"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."

Dr. Yao brings more than 20 years' experience in the biopharmaceutical industry to his role as Viela's CEO. Most recently, Dr. Yao was Senior Vice President, Head of MedImmune's Respiratory, Inflammation, Autoimmune Innovative Medicines unit. During his tenure at MedImmune, he held key leadership roles in the development and approval of three novel biologics for autoimmune, respiratory, and immune-oncology indications respectively. Before joining MedImmune, Dr. Yao held leadership positions at  Genentech and Tanox. Dr. Yao also held multiple positions at Aventis and Amgen.