MiroBio Secures $34 Million Series A Financing to Advance Novel Antibody Therapies for Autoimmune Diseases

On October 10, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company MiroBio announced the completion of a $34 million Series A financing round. The round was co-led by Oxford Science Innovation (OSI) and Samsara Biocapital, with participation from Advent Life Sciences (Advent) and SR One.

It is reported that MiroBio will use the funds from this round of financing to expand its scale and develop antibody drugs for autoimmune diseases.

MiroBio, founded in 2019 and headquartered in Oxford, UK, is the eighth company spun out from the University of Oxford. The company primarily operates in the biotechnology sector, developing novel antibody therapeutics for autoimmune diseases. In addition to MiroBio, the University of Oxford has previously established other ventures such as GyreOx, an antibiotic research and development company, and Lime Biosciences, a biosynthesis company.

MiroBio was founded by Simon Davis, Professor of Immunology at the University of Oxford, and Richard Cornall, Professor of Clinical Medicine, based on their research into the body’s immune signaling mechanisms. These two scientists discovered that cell receptors play a crucial role in cell signaling and help the human immune system perform its normal defensive functions. This research has provided new insights for the development of antibody-based therapeutics.

Simon Davis and Richard Cornall have conducted 15 years of research into cell-surface immune signaling mechanisms and are dedicated to developing novel antibody drugs for the treatment of patients with autoimmune diseases. These therapeutics help activate the regulatory mechanisms of the human immune system, thereby preventing it from attacking normal tissue cells.

Currently, Srini Akkaraju of Samsara Biocapital, Debbie Harland of SR One, Shahzad Malik of Advent, and Andrew McLean of OSI have joined the board of directors of MiroBio. In addition, Dr. Eliot Charles, Venture Partner at SR One, will serve as Chairman of the Executive Team, and Bob Stein, Operating Partner at Samsara Biocapital, will assume the role of Interim Chief Scientific Officer.

Srini Akkaraju stated, “MiroBio has discovered innovative approaches to modulating immune cell activity. By integrating expertise in receptor signal transduction, drug development, and disease biology, the company will develop higher-value novel therapeutics for a range of immune-mediated indications.”

Dr. Eliot Charles stated, “MiroBio possesses advanced technology that can provide new therapeutic options for patients with autoimmune diseases.”

Oxford Science Innovation Fund, established in 2015 and headquartered in Oxford, UK, is a venture capital firm. The company is dedicated to investing in world-leading science and technology as well as healthcare enterprises. Since its inception, Oxford Science Innovation has completed 70 investments.

Samsara Biocapital, headquartered in Silicon Valley, USA, is a venture capital firm. The company primarily focuses on the life sciences sector, providing financial support to innovative biotechnology companies. To date, Samsara Biocapital has completed 13 financing rounds, with total investments exceeding $300 million.

Advent, headquartered in London, UK, is a venture capital firm. The company specializes in investing in new drug development, biotechnology, and medical devices.

SR One, established in 1985 and headquartered in California, USA, is the venture capital arm of the biopharmaceutical giant GlaxoSmithKline. The firm primarily invests in emerging life sciences and healthcare companies, with total investments exceeding $800 million.

(Compiled by Xu Xiaoxue)