Gilead Sciences to acquire Oxford Uni biotech spinout Mirobio for $450 million
US pharmaceutical giant Gilead Sciences has announced plans to acquire Oxford University biotech spinout company MiroBio in a cash deal worth $405 million.
MiroBio was spun out of the University of Oxford in 2019 to develop a new class of medicines, called immune checkpoint agonists, to treat autoimmune diseases by restoring balance to the immune system.
The company was co-founded by Oxford Science Enterprises and Tim Funnell, OSE’s entrepreneur in residence at the time, and Samsara BioCapital, working closely with MiroBio’s scientific founders – Simon Davis, Professor of Molecular Immunology, MRC Weatherall Institute of Molecular Medicine, and Richard Cornall, Nuffield Professor of Clinical Medicine.
“We are excited to be joining Gilead,” said Eliot Charles, Chairman of MiroBio.
“MiroBio has a deep understanding of checkpoint receptor signaling and a proprietary approach to select and generate superior agonist antibodies.
"Combining this with Gilead’s drug development and therapeutic area expertise will allow us to fully explore the potential of checkpoint agonist antibodies for patients with autoimmune disease.”
Flavius Martin, Executive Vice President, Research, Gilead Sciences, said: "The team at MiroBio has spearheaded foundational research for agonist antibodies following a rigorous scientific approach.
“We believe that MiroBio’s unique platform technology has the potential to produce best-in-class agonist antibodies targeting immune inhibitory receptors.”
Since inception MiroBio has been supported by Oxford Science Enterprises, the independent investment company created to found, fund and build transformational businesses via its unique partnership with the University of Oxford.
OSE co-led MiroBio’s £27 million Series A investment with Samsara BioCapital in 2019, bringing in several other top tier global life science investors.
The company also participated in MiroBio’s recent £80 million Series B round, led by Medicxi, which further strengthened its global investor base.
Katya Smirnyagina, Senior Partner, Life Sciences at OSE, said: “OSE is proud to have played a key role in the creation of MiroBio and to have supported its successful development through to its acquisition by Gilead.
"Combining MiroBio’s innovative technology with that of a world-leading company should allow its pipeline to truly flourish. This is a great example of our model in action, where OSE has worked with leading Oxford academics to set their breakthrough science on a trajectory to where it can have a positive impact – in this case to develop much-needed new therapies for patients with debilitating autoimmune diseases.
"We are delighted with the outcome, not just for the founders and everyone at MiroBio, but also because it provides us with a strong return on our investment, providing additional funds to re-invest into Oxford spinouts.”
