Mereo BioPharma
London, United Kingdom

Mereo BioPharma develops and commercialises innovative therapeutics addressing rare diseases. It also has specialty pharmaceutical products that it will partner. The assets are acquired or licensed in at clinical stages from large pharmaceutical companies. The portfolio consists of six compounds that are in clinical development.

Investment Perspective

Mereo BioPharma is developing a portfolio of rare disease therapies that have been sourced from larger drug players. An appropriate selection of these will be retained for self-commercialisation. The longer-term goal is the creation of a self-sustaining speciality pharmaceutical company that addresses orphan and rare diseases. In the near term these clinical assets are progressed to value-inflection points and then partners are sought. The partnering deals will likely be structured to provide funding for the continuing development operations, yet retaining a sizeable element of longer-term upside. The company has a cash runway extending to mid-2020. We have updated our rNPV model to 412p/share or $20.60/ADS (fully diluted).

Market information



Additional ASTEROID data supports progression
Lighthouse | 15 Jan 2020
Oncologie takes global licence to Navi
Lighthouse | 13 Jan 2020
Underappreciated and undervalued
Outlook | 07 Jan 2020

Recent News

Additional positive data from Phase 2b ASTEROID study
14 Jan 2020
Mereo and Oncologie enter global licensing agreement for navicixizumab
13 Jan 2020
Phase 2b ASTEROID study data in adults with osteogenesis imperfecta
11 Nov 2019
FDA Fast Track Designation for Navicixizumab
07 Oct 2019