Biopharmaceutical company Gilead Sciences Inc (Nasdaq:GILD) has agreed to acquire MiroBio, a privately held UK-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors, the two companies announced on Thursday.

Under the agreement Gilead will acquire all of the outstanding share capital of MiroBio for a total of USD405m in cash, subject to customary adjustments.

This acquisition will provide Gilead with 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 (BTLA). Currently in Phase 1 clinical trials, MB272 targets T, B and dendritic cells to inhibit or blunt activation and suppress an inflammatory immune response.

According to Gilead, MiroBio's I-ReSToRE platform (REceptor Selection and Targeting to Reinstate immune Equilibrium) has the potential to be used to develop best-in-class agonist antibodies targeting immune inhibitory receptors, a novel approach to the treatment of inflammatory diseases. The I-ReSToRE platform supports identification and development of therapeutics that utilise inhibitory signalling networks with the goal of restoring immune homeostasis for patients. Gilead anticipates advancing additional agonists derived from MiroBio's I-ReSToRE platform, including a PD-1 agonist, MB151, in the coming years.

Closing of the acquisition is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.