Proposed Combination of Mereo BioPharma and OncoMed Pharmaceuticals

Mereo BioPharma (AIM:MPH) the clinical stage UK based biopharmaceutical company focused on rare diseases, and OncoMed Pharmaceuticals (NASDAQ:OMED) a NASDAQ listed oncology-focused clinical stage biopharmaceutical business, today announce the proposed combination of Mereo and OncoMed. The Transaction has been unanimously approved by the Board of Directors of each company.

As quoted in the press release:

Commenting on the announcement, Mereo’s Chief Executive Officer, Dr Denise Scots-Knight, said: “I am delighted to announce our proposed combination with OncoMed. The Transaction allows us to broaden our asset base, including strengthening our cash position to enable us to progress beyond our key clinical milestones.

We believe that our plan to initiate a US ADR programme on NASDAQ, in addition to the continued listing of our ordinary shares on AIM, will facilitate a deep engagement with the broadest range of appropriate investors.

During 2019 we continue to expect several value inflection points, including data from our Phase 2b dose ranging study for BPS-804 for osteogenesis imperfecta and data from our Phase 2 dose ranging study for MPH-966 for alpha-1 antitrypsin deficiency both being run in the US and Europe. Alongside these milestones, we are also progressing partnering discussions for our other two products, BCT-197 for acute exacerbations of COPD and BGS-649 for hypogonadotropic hypogonadism. We also intend to begin partnering discussions for OncoMed’s navicixizumab programme, which has generated encouraging clinical data in ovarian cancer that should guide further clinical development.”