Private placement raises $70m (£56m)
Lighthouse | 4 June 2020
Trinity Delta view: Mereo BioPharma has developed a portfolio of innovative oncology and rare disease products. The strategy is to progress these to a sizeable value-inflection point and then partner with a larger player. Management intends to retain some rights for self-commercialisation, with the longer-term goal to create a self-sustaining speciality pharmaceutical company that addresses oncology, orphan and rare diseases. This sizeable fund raise is a tangible validation of the approach and allows management to better pursue its strategy. In line with our policy we suspend our valuation and forecasts, with the intention of reinstating them as soon as practicable. For context, our previous valuation was £442m ($574m), equivalent to 412p/share or $20.60/ADS (fully diluted).
4 June 2020
|Price (UK share)|
Mereo BioPharma develops and commercialises innovative therapeutics addressing oncology, rare and specialty diseases. These are acquired or licensed in at clinical stages from large pharmaceutical companies. The portfolio consists of six compounds that are progressing through late clinical development.
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