MedImmune Inc., the research and development arm of global drug giant AstraZeneca PLC, is spinning out a new company named Viela Bio with plans to create 100 jobs within the next three to five years.
As part of the launch, Viela Bio said it raised $250 million from a consortium of investors led by 6 Dimensions Capital, Boyu Capital and Hillhouse Capital with additional funds from Temasek and Sirona Capital. AstraZeneca (NYSE: AZN) will remain the largest minority shareholder of Viela Bio, which will lease space on MedImmune's campus in Gaithersburg.
Image: Bing Yao was named CEO of Viela Bio. MEDIMMUNE
