26 Nov 2018 07:00
Mereo BioPharma Group plc
("Mereo" or the "Company")
Issue of Warrants
London, 26 November 2018 - Mereo BioPharma Group plc (AIM: MPH), a clinical stage UK based biopharmaceutical company focused on rare diseases, announced today the issue of warrants associated with the previously announced investment from the venture philanthropy arm of the Alpha-1 Foundation.
In accordance with the terms of the investment, the Company has issued warrants giving the Alpha-1 Foundation the right to subscribe to 41,286 shares at a price of £0.003 per share, currently equivalent to approximately 0.06% of the issued share capital of the Company. These warrants will be capable of exercise from completion of the Company's Phase 2 clinical study of MPH-966 (alvelestat) until 2 November 2028.
Enquiries:
Mereo BioPharma Group plc | +44 (0)333 023 7300 |
Denise Scots-Knight, Chief Executive Officer | |
Richard Jones, Chief Financial Officer | |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) | +44 (0)20 7894 7000 |
Phil Davies | |
Will Goode | |
Rick Thompson | |
RBC Capital Markets (Joint Broker) | +44 (0)20 7653 4000 |
Rupert Walford | |
Jamil Miah | |
FTI Consulting (Public Relations Adviser) | +44 (0)20 3727 1000 |
Simon Conway | |
Brett Pollard | |
Burns McClellan (US Public Relations Advisor to Mereo Biopharma) | +01 (0) 212 213 0006 |
Lisa Burns | |
Ami Bavishi |
About Mereo BioPharma
Mereo is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for patients with rare diseases. The portfolio currently consists of four clinical-stage product candidates, each of which were acquired from large pharmaceutical companies: BPS-804 (setrusumab) for the treatment of osteogenesis imperfecta ("OI"); MPH-966 (alvelestat) for the treatment of severe alpha-1 antitrypsin deficiency ("AATD"); BCT-197 for the treatment of acute exacerbations of chronic obstructive pulmonary disease, ("AECOPD"); and BGS-649 for the treatment of hypogonadotropic hypogonadism ("HH") in obese men. Each of the Company's product candidates has generated positive clinical data for Mereo's target indication or in a related indication. The Company's strategy is to selectively acquire product candidates that have already received significant investment from pharmaceutical companies and that have substantial preclinical, clinical and manufacturing data packages. Since inception the Company has commenced large, randomized, placebo-controlled Phase 2 clinical trials for all four of the product candidates and has previously announced positive top-line results from two of its clinical trials: a Phase 2 trial with BCT-197 in December 2017 and a Phase 2b dose-ranging study with BGS-649 in March 2018. The Company recently announced that the first patient has been dosed in its Phase 2 clinical study of MPH-966 for the treatment of AATD. The Company also recently announced completion of enrolment with 112 adult patients in the Phase 2b dose ranging study of BPS-804 in osteogenesis imperfecta.
About The Alpha-1 Project
Mission statement: The Alpha-1 Project works with patients, academia, pharmaceutical and biotech companies, and public health organizations in the relentless pursuit of cures and therapies for COPD and liver disease caused by Alpha-1 Antitrypsin Deficiency. For more information, visit www.thealpha-1project.com. The Alpha-1 Project is a wholly-owned for-profit subsidiary of the Alpha-1 Foundation. For more information on the Foundation, visit www.alpha1.org.