UK immunology company MiroBio launches with £27m fundraising

MiroBio, a new UK start-up, raised £27m in its first-round financing for its antibody therapies for autoimmune and inflammatory disorders.

The company was created to further explore the discoveries that were made at the laboratory of Simon Davis, a professor of molecular biology at Weatherall Institute of Molecular Medicine and Richard Cornall, professor of clinical medicine at Oxford University. They will use their experience of 15 yrs of study into immune-signaling mechanisms at the cell surface to provide scientific aide to MiroBio.

The company will research into the development of therapeutic antibodies that can “reapply the natural brakes” of the immune system that are faulty in auto-immune diseases. With MiroBio stating that its antibodies will target the underlying cause of diseases unlike current therapies such as TNF inhibitors.

The company’s series A financing was co-led by Oxford Sciences Innovation, Samsara Biocapital and Advent life sciences. The money will be used to accelerate its lead programmes, strengthen its proprietary platform and build its management team for the next stage of growth.

MiroBio is currently the eight company to spin out of Oxford University this year, following in the steps of others such as antibiotic specialist GyreOx and DNA assembly company Lime Biosciences.
Figures published earlier this year by the Bioindustry association show that the UK pharma industry is still healthy and receiving good amount of investment despite the uncertainty caused by Brexit.

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