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 made significant progress strategically during H119 with the completion of the merger with OncoMed, and now is entering a critical 12-month period. Full 12-month data from the Phase II study in osteogenesis imperfecta (OI) with setrusumab (BPS-804) is due in Q419; promising 6-month data in the open-label arm has already been reported. Phase II data with its second rare-disease asset, alvelestat (MPH-966), in α-1 antitrypsin deficiency (AATD) is expected in mid-2020. The company will also be looking to partner its non-core assets to strengthen its balance sheet, with negotiations on acumapimod (BCT-197) for acute COPD most advanced. We maintain our valuation of Mereo at 506p/share or $25.59/ADS.

Market information



Setrusumab set to advance
Lighthouse | 11 Nov 2019
Entering an important 12 month period
Update | 19 Sep 2019
Accelerated approval path for NAVI
Lighthouse | 16 Jul 2019

Recent News

Phase 2b ASTEROID study data in adults with osteogenesis imperfecta
11 Nov 2019
FDA Fast Track Designation for Navicixizumab
07 Oct 2019
H119 interims and corporate update
17 Sep 2019
Setrusumab Phase IIb data to be presented at ASBMR 2019 meeting
04 Sep 2019