Mereo BioPharma
London, United Kingdom

Mereo BioPharma develops and commercialises innovative therapeutics addressing rare and specialty diseases. These are acquired or licensed in at clinical stages from large pharmaceutical companies. The portfolio consists of four compounds that are progressing through late clinical development.

Investment Perspective

Mereo BioPharma has built a pipeline of four late-stage clinical assets as it focuses on becoming a rare disease, specialty pharmaceutical company. Its orphan disease products are BPS-804 for osteogenesis imperfecta (brittle bone disease), and MPH-966 for the treatment of alpha-1 antitrypsin deficiency (AATD). The strategy is to in-license more late-stage assets for the treatment of rare diseases. A proposed combination with OncoMed Pharmaceuticals would add two more clinical programmes but, more importantly, extends the cash runway through 2020, brings US infrastructure, and a NASDAQ listing. Pending approval, we have suspended our forecasts and valuation. Our prior valuation was £510m, or 615p a share (fully diluted).

Market information

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Executing a well articulated strategy
Outlook | 31 Jan 2019
Merger with NASDAQ-listed OncoMed
Lighthouse | 07 Dec 2018
Phase II starts with backing from patient support group
Lighthouse | 05 Nov 2018

Recent News

Publication of F-4
25 Jan 2019
BGS-649 Phase IIb data to be presented at ENDO 2019
15 Jan 2019
Positive results from BGS-649 safety extension study
18 Dec 2018
Proposed combination of Mereo and OncoMed
05 Dec 2018