A consortium of Chinese private equity funds are investing up to $250 million to create a biotech firm that seeks to build on the work of Gaithersburg, Maryland-based MedImmune, bringing 100 jobs to Montgomery County’s biotechnology corridor.
Investment companies Boyu Capital, 6 Dimensions Capital and Hillhouse Capital announced last week that they have teamed up with MedImmune, the research and development arm of AstraZeneca, to spin off six of the firm’s drug candidates into a new company focused on severe autoimmune diseases.
