9. Viela Bio

Viela Bio CEO Bing Yao standing outside against an unfocused backdrop of trees and a building
Helmed by Bing Yao, Viela Bio is the result of a refocusing quest in which AstraZeneca hived off a group of programs in inflammatory and autoimmune diseases. (Viela Bio)

Deal size: $150.1 million
Valuation: $985 million
Share price: $19
Shares sold: 7,900,000 

Like SpringWorks, Viela Bio is another Big Pharma spinout. It is the result of a refocusing quest in which AstraZeneca hived off a group of programs in inflammatory and autoimmune diseases. Six of those programs ended up at Viela Bio, which launched in February 2018 with a $250 million series A in the bank. A year and a half later, the company sought a $150 million IPO. 

Along the way, inebilizumab, the company’s treatment for neuromyelitis optica spectrum disorder (NMOSD), delivered in a pivotal study, spurring an FDA filing. NMOSD is a relapsing-remitting disease: The immune system attacks the optic nerves and spinal cord during a relapse, leading to vision loss, blindness and paralysis. Inebilizumab is a CD19-targeting monoclonal antibody that AstraZeneca tested in multiple sclerosis and multiple myeloma, as well as in NMOSD. Viela’s two other clinical-stage hopefuls include VIB4920, a fusion protein that binds to the CD40 ligand, in development for Sjögren syndrome and kidney transplant rejection; and VIB7734, which is being tested in multiple autoimmune diseases. 

9. Viela Bio