Gilead Sciences To Buy Clinical-stage Private Biotechnology Firm MiroBio For $405 Mln In Cash
Gilead Sciences, Inc. (GILD), a biopharmaceutical company, announced Thursday that it has signed a definitive agreement to acquire MiroBio, a privately-held U.K.-based
biotechnology company, for around $405 million in cash.
The cash consideration is subject to customary adjustments and payable at closing of the deal.
MiroBio is backed by a group of international investors including Oxford Science Enterprises, Samsara BioCapital, SR One, Medicxi, Advent Life Sciences, OrbiMed and Monograph.
Further, Gilead expects the transaction with MiroBio to reduce its fiscal 2022 earnings per share on a reported and adjusted basis by approximately $0.30-$0.35.
The company noted that it no longer excludes acquired IPR&D expenses from its non-GAAP financial measures.
MiroBio, a clinical-stage private biotechnology company, is focused on restoring immune balance with agonists targeting immune inhibitory receptors.
With the acquisition, Gilead will get MiroBio’s proprietary discovery platform and entire portfolio of immune inhibitory receptor agonists. MiroBio’s lead investigational antibody, MB272, is a selective agonist of immune inhibitory receptor B- and T-Lymphocyte Attenuator or BTLA. It has entered Phase 1 clinical trials, with the first patient dosed earlier this week.
In the deal, Cowen is acting as financial advisor to Gilead, and Centerview Partners is acting as financial advisor to MiroBio.
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