MiroBio Limited, a privately-held UK-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors, has entered into a definitive agreement with Gilead Sciences, Inc. to be acquired for approximately $405 million in cash, subject to customary adjustments.
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.
MiroBio has developed I-ReSToRE, a proprietary discovery platform, combining its Checkpoint Atlas receptor mapping database and visualisation tool, with proprietary antibody engineering.
Giovanni Mariggi, co-founder and Partner at Medicxi, commented:
“Over a decade of foundational research into inhibitory receptors at Oxford University provided MiroBio with world-leading domain expertise in checkpoint agonism.
“We are proud to have backed the company as they transition into the clinic and delighted for Nick, our newly-appointed Partner at Medicxi, on his continued success in creating and investing in biotech companies with the aim to deliver meaningful treatments for patients.”
Oxford Science Enterprises and Samsara BioCapital co-led a £27 million Series A investment in 2019.
Life sciences investment firm Medicxi invested in the company in June 2022 when it led an £80 million Series B financing.
Nick Williams, who was recently appointed as Partner at Medicxi, oversaw the investment and joined MiroBio’s board.
Williams said:
“The acquisition of MiroBio is a testament to the best-in-class discovery engine and highly innovative pipeline they have built.
“Despite recent advances, significant clinical unmet need remains in inflammatory and autoimmune diseases with the majority of patients not achieving remission with current therapies.
“By restoring immune homeostasis, MiroBio’s checkpoint agonists have the potential to provide novel and differentiated treatments to these patients.
“We are extremely excited to be partnering with an experienced organisation like Gilead, which will accelerate MiroBio’s candidates into treatments for patients.
“This deal also represents the first exit for Medicxi III, our most recent venture fund launched in 2020.”
