We are advising Gilead Sciences on the transaction

Davis Polk is advising Gilead Sciences, Inc. on its acquisition of MiroBio Ltd for approximately $405 million in cash, subject to customary adjustments. The transaction is subject to customary closing conditions, including regulatory approval.

Gilead Sciences is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, cancer and inflammation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.

MiroBio is a privately held U.K.-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors. MiroBio’s lead investigational antibody, MB272, is a selective agonist of immune inhibitory receptor B- and T-Lymphocyte Attenuator and has entered Phase 1 clinical trials, with the first patient dosed earlier this week. MB272 targets T, B and dendritic cells to inhibit or blunt activation and suppress an inflammatory immune response.

The Davis Polk corporate team includes partners Paul S. Scrivano, Will Pearce and Cheryl Chan, and associates Tierney O’Rourke, Vivek Thanki, Joseph G. Marano and Rong (Fiona) Huang. Partner David R. Bauer is providing intellectual property advice. Partner Jennifer S. Conway is providing executive compensation advice. The antitrust and competition team includes partner Ronan P. Harty. Members of the Davis Polk team are based in the Northern California, London and New York offices.