AstraZeneca Spinout Viela Bio Files for $150 Million IPO to Advance Autoimmune Disease Therapies

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biopharmaceutical company Viela Bio has announced its initial public offering (IPO), aiming to raise $150 million. The company has currently filed a preliminary prospectus.

It is reported that Viela Bio had previously completed five rounds of financing. Among these, the company closed a $282 million Series A financing round in February 2018 and a $75 million Series B financing round in June 2019.

Viela Bio, formerly a subsidiary of AstraZeneca, became an independent entity in 2018. Headquartered in Gaithersburg, Maryland, USA, the company is a clinical-stage biotechnology firm. Viela Bio focuses on developing innovative therapies for autoimmune diseases and severe inflammatory conditions, providing patients with new treatment options.

Since its inception, Viela Bio has collaborated with multiple pharmaceutical companies and research institutions, and has secured joint financial support from prominent venture capital firms including Boyu Capital, 6 Dimensions Capital, and Hillhouse Capital.

One of Viela Bio’s lead drug candidates is inebilizumab, which is primarily indicated for the treatment of rare autoimmune diseases. This medication is a humanized monoclonal antibody that binds to the CD19 antigen expressed on B cells, plasmablasts, and plasma cells in the human body. Upon binding to CD19, inebilizumab rapidly depletes these cells from the circulation, thereby reducing elevated antibody levels and effectively alleviating patient symptoms.

Inebilizumab was granted orphan drug designation by the European Medicines Agency (EMA) in 2017 for the treatment of rare autoimmune diseases such as neuromyelitis optica spectrum disorder (NMOSD).

Neuromyelitis Optica (NMO) is an acute or subacute demyelinating disorder characterized by simultaneous or sequential involvement of the optic nerves and spinal cord. It is a rare, life-threatening autoimmune disease caused by autoimmune cells attacking normal cells in the optic nerves and spinal cord, leading to severe bodily damage. NMO lesions affect the optic nerves, optic chiasm, and the thoracic and cervical segments of the spinal cord. Clinically, patients present with unilateral or bilateral blindness, and may develop transverse or ascending myelitis within days or weeks after diagnosis.

Studies have shown that patients with neuromyelitis optica spectrum disorder (NMOSD) produce antibodies against the aquaporin-4 protein in their optic nerves and spinal cord, and these antibodies are a key pathogenic factor in inducing NMOSD. Inebilizumab can directly target and eliminate the cells that produce such antibodies. Currently, this drug has completed Phase III clinical trials for NMOSD.

Bahija Jallal, Senior Vice President of AstraZeneca, stated, “Viela Bio has been committed to pursuing scientific avenues to safeguard patients’ lives and health. We are developing innovative biologics to provide new treatment options for patients with inflammatory and autoimmune diseases.”

(Compiled by Xu Xiaoxue)