Viela Bio Secures $250 Million Series A Financing Led by 6 Dimensions Capital, Boyu Capital, and Hillhouse Capital to Advance Innovative Therapies for Inflammatory and Autoimmune Diseases

VCBeat (WeChat ID: vcbeat) has learned that on February 28, 2018, the emerging U.S. biotechnology company Viela Bio announced its spin-off from MedImmune, AstraZeneca’s global biologics R&D arm, to become an independent biopharmaceutical company focused on treating inflammatory and autoimmune diseases. The Viela Bio team aims to develop innovative drugs that selectively target key pathogenic pathways underlying these conditions, bringing benefit to millions of patients worldwide.

Meanwhile, Viela Bio also secured $250 million in Series A financing. The round was led by a consortium consisting of All-China Health Capital, Boyu Capital, and Hillhouse Capital, with participation from Temasek and Sirona Capital. Nevertheless, AstraZeneca remains the company’s largest shareholder.

The newly independent Viela Bio will acquire three preclinical candidate drugs from MedImmune, as well as three investigational new drugs in clinical development. Among them is inebilizumab, which is already in Phase 2 clinical trials and part of Viela Bio’s pipeline. This investigational drug is currently undergoing clinical trials for the treatment of neuromyelitis optica (NMO) and has been granted orphan drug designation by both the U.S. FDA and the European EMA.

Viela Bio will utilize the proceeds from this financing round to complete Phase II clinical trials of inebilizumab, develop drugs in early-stage development, and continue exploring innovative therapeutic approaches in the fields of inflammation and autoimmune diseases. Viela Bio is headquartered in Gaithersburg, Maryland, USA.

Dr. Zhengbin Yao to Become CEO of Viela Bio

Yao Zhengbin has over 20 years of experience in the biopharmaceutical industry, with a proven track record of leading teams to successfully develop innovative biologics in the fields of autoimmune therapy, respiratory diseases, and tumor immunology. He has held leadership positions at Genentech and Tanox, and has also worked at Sanofi-Aventis and Amgen.

Dr. Zhengbin Yao previously served as Senior Vice President and Head of the Respiratory, Inflammation, and Autoimmunity Innovative Medicines Unit at MedImmune; following the company’s spin-off, he will assume the role of CEO at Viela Bio.

“Viela Bio was founded with strong investor backing and pipeline momentum. We have multiple innovative molecules for the treatment of inflammatory and autoimmune diseases,” said Zhengbin Yao. “Our specialized team continues to expand. These researchers bring years of experience in clinical development and disease research, and the potential of these drug candidates has been initially validated.”

This investment also represents the largest project initiated and established by All in Bio Capital since its merger announcement in May 2017.

Dr. Chen Lianyong, CEO and Founding Partner of Tonghe Yucheng

“Autoimmune diseases represent a massive, unmet market need globally,” said Dr. Chen Lianyong, CEO and Founding Partner of Allpids Capital. “Viela Bio holds advantages in autoimmune drug development, underpinned by its best-in-class biologic pipeline. As investors in this startup, we believe these innovative R&D programs will achieve rapid growth under the leadership of seasoned scientific and commercial leaders.”

As a professional fund with deep coverage of the life sciences sector across both sides of the Pacific, Tonghe Yucheng is committed to cultivating and building an industry ecosystem. Its deep involvement in the spin-off of MedImmune and the creation of Viela Bio represents a key component of Tonghe Yucheng Capital’s implementation of its ecosystem and investment strategies.