Biotech bigs float R&D venture

Former Biogen CEO George Scangos is heading a team of drug industry veterans behind Vir Biotechnology, a new company that seeks treatments for infectious disease. The group hopes to employ immune programming to manipulate pathogen-host interactions. Lead investors include Arch Venture Partners and the Bill & Melinda Gates Foundation. Arch, whose co-founder Robert Nelsen conceived of Vir, has committed to invest $150 million. Nelsen says he expects Vir to fund academic research, conduct its own R&D, and spend up to $100 million on individual in-licensing deals.