Scangos to lead anti-infectives newco Vir

Anti-infectives company Vir Biotechnology Inc. (San Francisco, Calif.) launched with an investment round of undisclosed size. Former Biogen Inc. (NASDAQ:BIIB) CEO George Scangos will be the newco's CEO.

Vir said Arch Venture Partners, which led Vir's formation, has committed to invest $150 million. The Bill & Melinda Gates Foundation also invested, as did undisclosed sovereign wealth funds, public mutual funds, private investors and family offices. A Vir spokesperson declined to name the investors...