MedImmune spins out autoimmune play Viela

The MedImmune LLC subsidiary of AstraZeneca plc (LSE:AZN; NYSE:AZN) is spinning out six compounds into severe autoimmune disease play Viela Bio Inc. (Gaithersburg, Md.). Bing Yao, who is head of MedImmune’s Respiratory, Inflammation & Autoimmunity (RIA) Innovative Medicines unit, will become CEO of the newco. Jorn Drappa, VP of RIA clinical development, will be Viela's head of R&D and CMO.

Yao told BioCentury that MedImmune had produced more molecules than it could fully develop, and chose to spin out some into a new company to better realize the candidates' potential. He added that Viela's development strategy includes targeting shared pathways in inflammatory and autoimmune diseases to develop drugs in multiple indications...