Viela Bio Files for $150 Million IPO

August 30, 2019

Veila Bio filed the paperwork for a $150 million IPO on 8/29/19. Viela is a clinical stage biotech focused on developing treatments for severe inflammation and autoimmune diseases by selectively targeting shared critical pathways. The company will trade on NASDAQ under the symbol, "VIE."

Viela has five development programs with three treatments in clinical development. Its lead candidate, Inebilizumab (previously known as MEDI-551), is a humanized mAb that binds to and depletes CD19+ B cells including plasmablasts and plasma cells. Inebilizumab is in trials for Neuromyelitis Optica Spectrum Disorder (NMOSD). NMOSD is a rare autoimmune disorder in which immune system cells and autoantibodies attack and damage the optic nerves and spinal cord. NMOSD is a chronically debilitating and potentially life-threatening disease. On 8/27/19, the company announced that the FDA had accepted its BLA for review for Inebilizumab as a treatment for NMOSD.

In June of 2018, Viela closed a $75 million Series B round. This brought the total capital raised since the Company’s launch in February 2018 to more than $300 million. The financing round was led by HBM Healthcare Investments, and additional new investors participating included Viking Global Investors, Cormorant Asset Management, Terra Magnum Capital Partners, Goldman Sachs, and Barer & Son Capital. Existing investors participating included Temasek.

The company said the new round would be used to support regulatory filing and pre-commercial planning for Inebilizumab.

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