Mereo BioPharma Group plc Intention to Purchase Shares by Trustee of EBT (0951Y)
May 03 2019 - 11:00AM
UK Regulatory
TIDMMPH
RNS Number : 0951Y
Mereo BioPharma Group plc
03 May 2019
Mereo BioPharma Group plc
("Mereo" or the "Company" or the "Group")
Intention to Purchase Shares by Trustee of Employee Benefit
Trust
London, May 3, 2019 - Mereo BioPharma Group plc (AIM: MPH,
NASDAQ:MREO), a clinical stage, UK-based, biopharmaceutical company
focused on rare diseases, today announces that the Trustee of the
Mereo BioPharma Group plc Employee Benefit Trust (the "Trust"),
Link Trustees (Jersey) Limited (the "Trustee"), has today indicated
its intention to make market purchases of ordinary shares of the
Company for the benefit of the Trust of up to GBP1,000,000 in
aggregate amount, to help meet future obligations arising under the
Company's share schemes. Purchases are subject to the Trustee's
absolute discretion as to the purchase price to be paid (the
"Market Purchases"). It is expected that the Market Purchases will
be funded by amounts advanced by the Company pursuant to a loan
agreement dated the date hereof.
The Trustee will make its trading decisions in relation to the
Market Purchases independently of, and uninfluenced by, the
Company.
About Mereo
Mereo is a biopharmaceutical company focused on the development
and commercialization of innovative therapeutics that aim to
improve outcomes for patients with rare diseases. Mereo's strategy
is to selectively acquire product candidates that have substantial
preclinical, clinical and manufacturing data packages. Mereo's four
product candidates have previously generated positive clinical data
for Mereo's target indications or in related indications. Mereo has
commenced randomized Phase 2 clinical trials for all four of the
product candidates. In connection with the merger with OncoMed,
Mereo added two candidates to its pipeline, Navicixizumab and
Etigilimab.
-- BPS-804 for osteogenesis imperfecta (OI). In October 2018,
the Company announced completion of enrollment of 112 adult
patients in a Phase 2b dose ranging study with initial data
expected in Q2 2019 and top-line dose ranging data in late 2019. A
pediatric Phase 3 study design has also been approved by the EMA.
BPS-804 has orphan designation in the U.S. and the EU and has been
accepted into the PRIME and Adaptive Pathways in EU;
-- MPH-966 for alpha-1 antitrypsin deficiency (AATD). The
Company recently announced dosing of the first patient in a Phase 2
dose ranging study in the U.S. with data expected around the end of
2019;
-- BCT-197 for severe exacerbations of COPD. The Company
announced positive Phase 2 data in May 2018 and recently announced
the outline of the pivotal Phase 3 study including the primary and
key secondary endpoints following the successful end of Phase 2
Type B meeting with the FDA;
-- BGS-649 for hypogonadotropic hypogonadism (HH). The Company
announced positive top-line Phase 2b data in March 2018 and
positive results from the Phase 2b safety extension study in
December 2018;
-- Navicixizumab has completed a Phase 1a single-agent clinical
trial in patients with advanced solid tumors and is currently in a
Phase 1b trial in combination with a standard paclitaxel regimen in
patients with platinum-resistant ovarian cancer. This study
recently completed enrolment; and
-- Etigilimab has completed a single-agent Phase 1a trial in
patients with advanced or metastatic solid tumors and is currently
in a Phase 1b combination study with nivolumab. Etigilimab is part
of OncoMed's prior collaboration with Celgene. Celgene has the
option to obtain an exclusive licence to develop and commercialize
the product. If Celgene exercises such option, OncoMed (now a
wholly-owned indirect subsidiary of Mereo) will be eligible to
receive a $35 million opt in payment.
Further Enquiries
Mereo +44 (0)333 023 7300
Denise Scots-Knight, Chief Executive Officer
Richard Jones, Chief Financial Officer
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker to Mereo) +44 (0)20 7894 7000
Phil Davies
Will Goode
RBC Capital Markets (Joint Broker to Mereo) +44 (0)20 7653 4000
Rupert Walford
Jamil Miah
FTI Consulting (Public Relations Adviser to Mereo)
Simon Conway +44 (0)20 3727 1000
Brett Pollard
Burns McClellan (US Public Relations Adviser to Mereo) +01 (0) 212 213 0006
Lisa Burns
Jill Steier
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END
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