17.1 C
London
Thursday, October 6, 2022

Gilead Sciences to acquire Oxford University biotech spinout MiroBio for $405 million – londonbusinessblog.com

Must read

Google tries again to answer the call of rushed phone use

Google's introduction of its new Pixel 7 and Pixel 7 Pro phones Thursday brings renewed focus to what may seem like the least interesting...

The Untold Truth of Jude Law’s Daughter

Iris Law is a British model, born on October 25, 2000 in London, United Kingdom. Although she is best known as the daughter...

Airtel rolls out 5G Plus in 8 cities, promises 20-30x faster speeds

The Airtel 5G Plus service will initially be rolled out in eight cities in phases. Existing 4G subscribers in these cities can use...

All the details about Maverick Star’s sexuality and personal life

Miles Alexander Teller is a Pennsylvania-born American actor. In a career spanning about ten years, Miles appeared in several hit movies such as...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

American pharmaceutical giant Gilead Sciences announced plans to acquire Oxford University biotech spinout company MiroBio in an all-cash deal worth $405 million.

MiroBio is a clinical stage company focused on developing treatments to “restore immune balance” in autoimmune patients, that is, when a person’s immune system attacks their own body tissues. Led by Professor Simon Davis and Professor Richard Corall, the company emerged from Oxford University in 2019 and has raised $130 million in venture capital, including a $97 million tranche in June from a slew of backers including Oxford Science enterprise (OSE), an investment firm that has supported more than 100 Oxford University spin-outs since its founding in 2015.

The Oxbridge Factor

The University of Oxford and the nearby University of Cambridge have long been focal points for both VC and M&A activities. In 2014, Google picked up AI-focused Cambridge spinout DeepMind, which in turn acquired two AI-focused teams from Oxford later that year.

More recently, another Oxford University spinout called DeepReason.AI was picked up by Meltwater in a $7.3 million deal back in Nov.

Gilead, originally founded as Oligogen in 1987, develops antiviral drugs used in the treatment of hepatitis B, HIV/AIDS, influenza and – more recently – Covid-19. The company this week increased its sales forecast expected demand for its Covid-19 drug Veklry, which was approved by the FDA earlier this year.

By taking MiroBio in-house, it will serve Gilead with MiroBio’s proprietary technology and “portfolio of immune-inhibitory receptor agonists,” according to to a statement.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Google tries again to answer the call of rushed phone use

Google's introduction of its new Pixel 7 and Pixel 7 Pro phones Thursday brings renewed focus to what may seem like the least interesting...

The Untold Truth of Jude Law’s Daughter

Iris Law is a British model, born on October 25, 2000 in London, United Kingdom. Although she is best known as the daughter...

Airtel rolls out 5G Plus in 8 cities, promises 20-30x faster speeds

The Airtel 5G Plus service will initially be rolled out in eight cities in phases. Existing 4G subscribers in these cities can use...

All the details about Maverick Star’s sexuality and personal life

Miles Alexander Teller is a Pennsylvania-born American actor. In a career spanning about ten years, Miles appeared in several hit movies such as...

Meet Tamara Hurwitz: An Untold Truth from American Actor Bill Pullman’s Wife

Tamara Hurwitz is an American modern dancer and performer who has performed with several recognized institutions such as Jose Limon Dance Company (New York),...