Mereo BioPharma Group plc Announces Proposed Public Offering of American Depositary Shares
09 Febrero 2021 - 3:03PM
Mereo BioPharma Group plc (NASDAQ: MREO) (“Mereo” or the
“Company”), a clinical-stage biopharmaceutical company focused on
oncology and rare diseases, today announced that it intends to
offer and sell American Depositary Shares (“ADSs”) in an
underwritten public offering. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering. Mereo also expects to grant the underwriters a
30-day option to purchase up to an additional 15% of the ADSs
offered in the public offering, on the same terms and conditions.
All of the ADSs in the offering are to be sold by Mereo, with net
proceeds to be used to fund ongoing clinical development of product
candidates and for working capital and other general corporate
purposes.
SVB Leerink is acting as sole book-running
manager for the offering. BTIG and Needham & Company are acting
as the co-lead managers for the offering.
A shelf registration statement on Form F-3
relating to the public offering of the ADSs described above was
declared effective by the Securities and Exchange Commission
(“SEC”) on October 21, 2020. The offering is being made only by
means of a written prospectus and prospectus supplement that form a
part of the registration statement. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. When available,
copies of the preliminary prospectus supplement and accompanying
prospectus relating to these securities may also be obtained by
sending a request to: SVB Leerink LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA, 02110, by
telephone at 1-800-808-7525, ext. 6105, or by email at
syndicate@svbleerink.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of these securities, nor will
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted.
About Mereo BioPharmaMereo BioPharma is a
biopharmaceutical company focused on the development and
commercialization of innovative therapeutics that aim to improve
outcomes for oncology and rare diseases. The Company has developed
a portfolio of six clinical stage product candidates. Mereo’s lead
oncology product candidate, etigilimab (Anti-TIGIT) has recently
advanced into an open label Phase 1b/2 basket study evaluating
Anti-TIGIT in combination with an anti-PD-1 in a range of tumor
types including three rare tumors and a number of gynecological
carcinomas including cervical and endometrial carcinomas. The
Company’s second oncology product, navicixizumab, for the treatment
of late line ovarian cancer, has completed a Phase 1 study and has
been partnered with OncXerna Therapeutics, Inc., formerly
Oncologie, Inc. The Company has two rare disease product
candidates: alvelestat for the treatment of severe Alpha-1
antitrypsin deficiency (AATD), which is being investigated in an
ongoing Phase 2 proof-of-concept study in the U.S. and Europe, for
which the Company expects to report top line data in the second
half of 2021, and setrusumab for the treatment of osteogenesis
imperfecta (OI). In September 2020, the FDA granted Rare Pediatric
Disease designation to setrusumab for the treatment of OI.
Following the completion of the Company’s Phase 2b ASTEROID study,
the Company met with both the FDA and the European Medicines Agency
(EMA) to discuss the principles of a design of a single Phase 2/3
registrational pediatric study in OI. In December 2020, the Company
signed a license and collaboration agreement for setrusumab in OI
with Ultragenyx Pharmaceutical Inc.
Forward-Looking StatementsThis
Announcement contains "forward-looking statements." All statements
other than statements of historical fact contained in this
Announcement are forward-looking statements within the meaning of
Section 27A of the United States Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the United States
Securities Exchange Act of 1934, as amended (the "Exchange Act").
Forward-looking statements usually relate to future events and
anticipated revenues, earnings, cash flows or other aspects of our
operations or operating results. Forward-looking statements are
often identified by the words "believe," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could," "may,"
"estimate," "outlook" and similar expressions, including the
negative thereof. The absence of these words, however, does not
mean that the statements are not forward-looking. These
forward-looking statements are based on the Company's current
expectations, beliefs and assumptions concerning future
developments and business conditions and their potential effect on
the Company. While management believes that these forward-looking
statements are reasonable as and when made, there can be no
assurance that future developments affecting the Company will be
those that it anticipates.
All of the Company's forward-looking statements
involve known and unknown risks and uncertainties some of which are
significant or beyond its control and assumptions that could cause
actual results to differ materially from the Company's historical
experience and its present expectations or projections. The
foregoing factors and the other risks and uncertainties that affect
the Company's business, including those described in its latest
Annual Report on Form 20-F, Reports on Form 6-K and other documents
filed from time to time by the Company with the SEC should be
carefully considered. The Company wishes to caution you not to
place undue reliance on any forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
publicly update or revise any of our forward-looking statements
after the date they are made, whether as a result of new
information, future events or otherwise, except to the extent
required by law.
Mereo BioPharma Contacts:
Mereo |
+44 (0)333 023 7300 |
Denise
Scots-Knight, Chief Executive OfficerChristine Fox, Chief Financial
Officer |
|
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Burns McClellan (US
Investor Relations Adviser
to Mereo) |
|
Lee Roth |
+1 (212) 300-8331 |
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Investors |
investors@mereobiopharma.com |
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