Company: Mereo Biopharma Group plc
Symbol: MREO
Description: They are a multi-asset biopharmaceutical company focused on the acquisition, development, and commercialization of innovative therapeutics that aim to improve outcomes for patients with rare and specialty diseases. This is an IPO of the company’s ADSs. Their ordinary shares trade on AIM, a market of the London Stock Exchange, under the symbol MPH.
Trade Date: 4/19
Shares: 2.83 million
Price Range: $17.62-$17.62
Underwriter(s): Cowen, BMO, RBC Capital
Co-Manager(s): JMP Securities, Cantor Fitzgerald (Europe)
Terms Added: 4-9-18
Note: Each ADS = 4 ordinary shares
Note (2): 4.54 million ordinary shares in Europe/Outside US Offering + Concurrent Private placement
Business: Their portfolio consists of four clinical-stage product candidates, each of which they acquired from large pharmaceutical companies. They are developing BPS-804 for the treatment of osteogenesis imperfecta, or OI, AZD-9668 for the treatment of severe alpha-1 antitrypsin deficiency, or AATD, BCT-197 for the treatment of acute exacerbations of chronic obstructive pulmonary disease, or AECOPD, and BGS-649 for the treatment of hypogonadotropic hypogonadism, or HH, in obese men. Each of their product candidates has generated positive clinical data for their target indication or for a related indication. They believe their portfolio is well diversified because each of their product candidates employs a different mechanism of action and targets a separate indication. They intend to develop and directly commercialize their rare disease product candidates. For their specialty disease product candidates, they intend to develop them through late-stage clinical milestones and then seek strategic relationships for further clinical development and/or commercialization.
Concurrent Private Placement: They are offering 4,540,833 ordinary shares through the underwriters named in this prospectus in Europe and countries outside of the United States and Canada in a concurrent private placement, or the European private placement.
Licensing: They have acquired or exclusively licensed a comprehensive intellectual property portfolio from Novartis and AstraZeneca, respectively.
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