Mereo balance sheet strong, sufficient funds for clinical tests

Mereo BioPharma Group, a clinical stage, UK-based biopharmaceutical company focused on rare diseases, is looking to strengthen its rare and specialty disease portfolio, as balance sheet remains strong, with unaudited cash balance of £57.9 million as of 30 November 2016.

Mereo said in a three clinical tests update on Mondaythat it has expanded its intellectual property protection across the portfolio through both new patent applications and the grant of pending patent applications for acumapimod, BPS-804, and BGS-649 in the US, EU and other territories.

Dr Denise Scots-Knight, Chief Executive Officer of Mereo , said: “We continue to make substantial progress in the clinical development of our initial product portfolio following the formal launch of the Company just under a year and a half ago. We remain focused on delivering a number of significant value inflection points as we look forward to 2017.

 “In line with our stated strategy, and with all three acquired programmes in the clinic in 2017, we are evaluating additional opportunities to strengthen our rare and specialty disease portfolio and remain in discussions with a number of large pharmaceutical and biotechnology companies.  We believe our novel business model aligns our interests with the drug development needs of these organisations where significant internal prioritisation for strategic and capital allocation reasons limits their ability to fund their entire pipeline of research and development stage assets.

 “We remain confident that we are well positioned to build a scalable and sustainable speciality pharmaceutical business that will bring forward important therapies in areas of high patient need and will generate significant shareholder value.”

Mereo’s three clinical tests update

BPS-804 for osteogenesis imperfecta

Mereo said that it prepares to kick of a study for orphan drug BPS-804 for patients with brittle bone disease (osteogenesis imperfecta – OI) in the first half of 2017. Interim efficacy data from this study, following six months treatment, are now expected to be available in H1 2018, Mereo said.

Acumapimod (BCT -197) for acute exacerbations of COPD (AECOPD)

It also said that the Phase 2 dose-ranging study with acumapimod, a p38 MAP kinase inhibitor, for treatment of the underlying inflammation in patients with acute exacerbation of COPD (AECOPD) is on track to deliver data in H2 2017.

BGS-649 for the treatment of hypogonadal hypogonadism (HH)

 The Phase 2b dose-confirmation study with the once-weekly, orally administered, aromatase inhibitor, BGS-649, for the treatment of symptomatic HH in obese men, is on track to deliver data in H2 2017.