Mereo BioPharma. This name doesn’t ring a bell? From now on, you should keep it in mind as it could rapidly become a rising star on the European Biotech scene. Launched five months ago, the company has already three candidates in phase II and just raised $119m (approximately €108m) from private investors!
Mereo has everything needed to rapidly put a new drug on the market. The newborn company acquired a portfolio of three innovative clinical-stage development programmes from Novartis. In exchange, Novartis gains an equity stake in Mereo and milestones payement on future commercial successes.
Mereo’s initial mid-stage portfolio comprises three novel products. Each programme has a comprehensive dataset, including proof of concept clinical studies. Mereo’s pipeline comprises BPS-804, a monoclonal antibody to improve bone density (and thereby reduce fractures) in the orphan disease osteogenesis imperfecta, commonly known as brittle bone syndrome; BCT-197, an orally active p38 MAP kinase inhibitor being developed as first-line therapy against an acute pulmonary disease; and BGS-649 a novel orally active aromatase inhibitor aiming at normalizing the testosterone level in obese men with hypogonadotrophic hypogonadism.