Ex-Biogen CEO Raises $500 Million to Conquer Infectious Diseases
- Vir Biotechnology focusing on hepatitis B and other ailments
- Investors include SoftBank’s Vision Fund, Gates Foundation
George Scangos
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Veteran biotechnology executive George Scangos has been busy since leaving Biogen Inc. and setting up an infectious-disease startup: After founding Vir Biotechnology Inc. in January, he’s done seven deals and raised more than $500 million.
That’s one of biggest fundraising rounds for any biotechnology startup this year, particularly for one focused on infectious diseases, an arena that traditionally hasn’t made a lot of money. Vir, which won’t start human trials for about 18 months, is setting its sights on treatments for tricky ailments that have long thwarted researchers, such as drug-resistant tuberculosis, Zika, hepatitis B and HIV.