Date: 2017-04-03
Type of information: Private placement
Company: Mereo BioPharma (UK)
Investors:
Amount: £15.0 million
Funding type: private placement
Planned used:
- Mereo intends to use the net proceeds from the placing to accelerate and expand the development of BPS-804 in osteogenesis imperfecta to include children. The company is on track to initiate a potentially pivotal clinical programme for BPS-804 in H1 2017 that will now include a paediatric study.
Others:
- • On April 3, 2017, Mereo BioPharma announced the successful completion of the placing, as announced on 29 March 2017. A total of 5,042,017 new Ordinary Shares have been placed by Cantor Fitzgerald Europe and RBC Capital Markets at a price of 297.5 pence per share to raise gross proceeds of approximately £15.0 million.
- The placing shares being issued represent approximately 7.8 per cent of the issued ordinary share capital of Mereo Biopharma prior to the placing. The placing price is equivalent to the closing price for the preceding business day prior to this announcement.
- • On March 31, 2017, Mereo BioPharma announce the successful completion of the placing announced on 29 March 2017.
- • On March 29, 2017, Mereo BioPharma announced that it intends to undertake a placing to raise a minimum of £15 million to support an accelerated development of BPS-804 for the treatment of the orphan disease, osteogenesis imperfecta (OI) (brittle bone disease), following its acceptance to participate in the European Medicine Agency's Adaptive Pathways Programme. Cantor Fitzgerald Europe and RBC Capital Markets are acting as joint bookrunners in connection with the placing. The company will utilise its existing shareholder authorities, put in place upon admission to AIM in June 2016, which allows non-pre-emptive placings of up to 9,651,119 new ordinary shares of £0.003 each in the Company ("Ordinary Shares"), representing up to 15.0 per cent of the Company's existing issued ordinary share capital. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM.
Therapeutic area: Rare diseases - Genetic diseases
Is general: Yes
