FOR IMMEDIATE RELEASE
February 28, 2018
NEW BIOTECH COMPANY, VIELA BIO, LAUNCHES IN MONTGOMERY COUNTY, MARYLAND
Spin-out of MedImmune’s autoimmunity and inflammation programs will continue development of potential medicines
Rockville, Md. — Viela Bio, a newly created spin-out of MedImmune, one of Maryland’s largest life sciences companies and the global biologics research and development arm of AstraZeneca, is launching in Gaithersburg, Maryland, with plans to create 100 new jobs within three to five years.
The company will focus on advancing a group of MedImmune’s potential autoimmune and inflammatory medicines. Today, three of the six potential medicines in the spin-out are in clinical trials, immediately making Viela Bio a leading clinical-stage biotech company in Maryland. Viela Bio will initially be located in space leased from MedImmune on its current Gaithersburg campus.
“Viela Bio shows great potential, launching with a very robust pipeline with multiple novel molecules in inflammation and autoimmunity with the goal of providing important, innovative medicines to patients. We appreciate the state of Maryland and Montgomery County’s commitment to our new company, and look forward to contributing to the state’s strong life sciences industry with the goal of becoming a top three biohealth cluster by 2023,” said Bing Yao, Ph.D., chief executive officer, Viela Bio.
“Viela Bio has made the right decision to launch in Montgomery County, in partnership with highly successful MedImmune and aligned with their mission,” said MCEDC CEO & President, David Petr. “Our life sciences industry continues to demonstrate that we have the talent, physical assets and legacy to contribute to important global health outcomes.”
“I am very excited that Viela Bio will take its place alongside the many successful biotech firms that call Montgomery County home,” said County Executive Ike Leggett. “By pioneering critical advances in life sciences, these firms are easing suffering and saving lives – right here in America and around the world. They are doing well – and doing good.”
“I am thrilled to welcome yet another biotech company to Montgomery County, which is one of the top biotech hubs in the world,” said Council President Hans Riemer. “Great companies like Viela Bio choose Montgomery County for its incredibly talented workforce and excellent quality of life.”
To assist with project costs, the Maryland Department of Commerce has approved a $2 million conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). Additionally, Montgomery County is providing a conditional $750,000 grant for project costs, including lab equipment. The company is also eligible for various tax credits, including the state’s Job Creation Tax Credit.
The Montgomery County Economic Development Corporation (MCEDC) is the official public-private organization representing Montgomery County, Md. The organization was created in 2016 to help businesses start, grow and exceed expectations by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website at thinkmoco.com. Follow us on Twitter, Facebook and LinkedIn.