Gaithersburg’s Viela Bio has completed a $75 million Series B round, bringing the total raised since the company’s launch only 16 months ago to more than $350 million.
The biotech expects to use the funding to support its Biologics License Application with the Food and Drug Administration for inebilizumab, its lead product candidate.
The financing round was led by HBM Healthcare Investments and several other new investors in Viela, including Viking Global Investors, Cormorant Asset Management, Terra Magnum Capital Partners, Goldman Sachs and Barer & Son Capital. Temasek, a previous Viela investor, also participated.
The latest raise follows a recent announcement that Viela had sealed a deal worth potentially $220 million with a Chinese pharmaceutical company to commercialize inebilizumab in China.
Inebilizumab is a product for blood cancers and autoimmune diseases. In May, Viela met primary and secondary endpoints in a study for patients with neuromyelitis optica spectrum disorder,…Read the full story from the Washington Business Journal.