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Gilead Sciences to acquire Oxford’s MiroBio for $405m

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Sam Pither

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American pharmaceutical company Gilead Sciences is set to acquire Oxford’s MiroBio in a deal worth approximately $405 million.

MiroBio is a biotechnology company working on a new approach to treating inflammatory diseases. The firm's work centres on restoring immune balance through targeted agonists aimed at immune inhibitory receptors.

The acquisition includes MiroBiro’s proprietary discovery platform, I-ReSToRE (REceptor Selection and Targeting to Reinstate immune Equilibrium). The platfom can potentially be used in the development of antibodies which target immune inhibitory receptors.

According to medical news outlet, Healio, these receptors play an important role during active infection and inflammation by maintaining peripheral tolerance and immune system homeostasis.

Homeostasis is the process by which biological systems (i.e. bodies) maintain stability while adjusting to varying external conditions.

The I-ReSToRE platform supports identification and development of therapeutics that utilize inhibitory signaling networks with the goal of restoring immune homeostasis for patients.

Gilead hopes to utilise the platfom to advance the development of additional agonists on it. This includes a PD-1 agonist, MB151, along with other undisclosed early-stage programs.

PD-1 is a checkpoint protein on immune cells called T cells. It normally acts as an ‘off switch’ which helps to keep the T cells from attacking other cells in the body. Patients suffering from auto-immune diseases often lack these proteins.

Flavius Martin, Executive Vice President of Research at 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.”

Spun out from the University of Oxford in 2019, MiroBio is based on more than 15 years of research carried out by Professor Simon Davis and Professor Richard Cornall. It has the potential to create safer and more effective medicines for patients with autoimmune disease.

MiroBio’s previous investors include Oxford Science Enterprises, Samsara BioCapital and Advent Life Sciences.

The agreement will see Gilead acquire all of the outstanding share capital of MiroBio for a cash total of $405 million, subject to customary adjustments.

Eliot Charles, Chairman of MiroBio, said: “We are excited to be joining Gilead. 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.”

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.