22 Aug 2017 09:17
Mereo BioPharma Group plc
("Mereo" or the "Company" or the "Group")
Issue of Warrants
London, 22 August 2017 - Mereo BioPharma Group plc (AIM: MPH), a clinical stage, UK-based, biopharmaceutical company focused on rare and specialty diseases, announces that further to the announcement on 8 August 2017, the Company has issued warrants to Silicon Valley Bank and Kreos Capital in respect of the right to subscribe for 363,156 shares at the subscription price of 302.9p being the average of the 10 day mid-market price of the ordinary shares prior to grant in connection with the debt facility agreed. These warrants will be capable of exercise from issue until 7 August 2027.
For Further Enquiries:
Mereo BioPharma Group plc | +44 (0)333 023 7319 |
Denise Scots-Knight, Chief Executive Officer |
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Richard Jones, Chief Financial Officer |
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Nominated Adviser and Joint Broker Cantor Fitzgerald Europe | +44 (0)20 7894 7000 |
Phil Davies |
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Will Goode |
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Joint Broker RBC Capital Markets | +44 (0)20 7653 4000 |
Rupert Walford |
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Laura White |
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Public Relations Adviser to Mereo Biopharma FTI Consulting | +44 (0)20 3727 1000 |
Ben Atwell |
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Simon Conway |
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Brett Pollard
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US Public Relations Advisor to Mereo Biopharma Burns McClellan | +01 (0) 212 213 0006 |
Lisa Burns |
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Steven Klass |
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About Mereo
Mereo BioPharma is an innovative biopharma company established to address the R&D and financial challenges faced by an increasing number of large pharma and biotech companies. Mereo focuses on developing and optimizing the value of novel medicines acquired from large pharma and biotech designed to address significant unmet medical needs in rare and specialty disease areas.
Mereo is comprised of a strong team with broad operational capabilities and the financial resources to conduct comprehensive clinical studies. The Company plans to build a rare and orphan commercial business combined with plans to partner where relevant.
Mereo's initial portfolio consists of three mid-late stage clinical assets that were acquired from Novartis in July 2015 each with proof of concept data in the indication that Mereo is now developing. BPS-804 is being developed for the prevention of fractures resulting from osteogenesis imperfecta (brittle bone disease); acumapimod (BCT-197), is being developed to treat inflammation in patients with an AECOPD; and BGS-649 is a once-weekly oral novel therapy that restores the patient's own testosterone in men with hypogonadotropic hypogonadism.
In H1 2016 the Company initiated a Phase 2 study with acumapimod and a Phase 2b study with BGS-649. Mereo recently announced commencement of the first potentially pivotal Phase 2b trial for BPS-804 and completion of enrolment of the acumapimod Phase 2 study. Additional product opportunities, from a range of large pharmaceutical and biotechnology companies, are under active evaluation and these are focussed on orphan and rare diseases.