Date: 2016-06-09
Type of information: IPO
Company: Mereo BioPharma (UK)
Investors:
Amount: £14.8 million
Funding type: IPO
Planned used:
- Mereo BioPharma is a UK-based specialty biopharmaceutical company founded in March 2015 with a focus on rare and specialty disease areas. The proceeds of the Private Placement and convertible loan (together, the Capital Raise) will provide additional funds to the £76.5 million committed in July 2015. Together this will allow Mereo to bring its existing product candidates through significant potential value inflection points. In July 2015, the Group acquired three Phase 2 product candidates which comprise its initial portfolio from Novartis and secured £76.5 million gross proceeds, by way of an initial private placement of its Ordinary Shares. Since that time the Company has initiated a Phase 2 study and a Phase 2b study in relation to two of the product candidates in 2016 and intends to commence registration studies during H2 2016 for the third product candidate.
BCT-197, is being developed to treat inflammation in patients with an acute exacerbation of chronic obstructive pulmonary disease. Mereo has initiated a Phase 2 dose ranging trial in 255 patients with data expected in the second half of 2017
BGS-649 is a once weekly pill to restore normal testosterone levels.Mereo has initiated a Phase 2b dose confirmation trial in approximately 260 patients in the first half of 2016 with data expected in the second half of 2017.
Others:
- On June 9, 2016, Mereo, a UK-based specialty biopharmaceutical company, announced that its Ordinary Shares were admitted to trading on the AIM market of the London Stock Exchange. This follows a successful capital raise with total gross proceeds of £14.8 million. On admission the Company will have a market capitalisation of approximately £142 million. Trading of the Ordinary Shares will take place under the ticker symbol “MPH” with ISIN GB00BZ4G2K23. RBC Capital Markets is acting as Global Coordinator, Private Placement Agent and Broker to the Company and Cantor Fitzgerald Europe is acting as Nominated Adviser, Private Placement Agent and Broker. Evercore is acting as Financial Adviser to the Company.
Therapeutic area: Rare diseases
Is general: Yes
