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Thursday, April 18, 2019 4:04:43 AM
Mereo BioPharma Group plc (AIM: MPH), a clinical stage, UK-based, biopharmaceutical company focused on rare diseases, announces today that stockholders of OncoMed (NASDAQ: OMED) have approved the transactions contemplated by the merger agreement dated 5 December 2018 between Mereo, OncoMed and certain other parties thereto (the "Merger Agreement"), pursuant to which OncoMed will become a wholly-owned indirect subsidiary of Mereo (the "Merger"), at a meeting of OncoMed's stockholders duly convened and held on 17 April 2019.
Following this affirmative vote of OncoMed stockholders, the Merger is expected to occur and become fully effective not later than the close of business in New York, USA on 23 April 2019.
In connection with the completion of the Merger, it is expected that Mereo will issue 24,783,320 new ordinary shares (representing approximately 25.8% of the enlarged issued share capital of Mereo) to Citibank, N.A., London Branch, as custodian, and will instruct Citibank, N.A., as depositary, to deliver 4,956,664 American Depositary Shares to former stockholders of OncoMed. Admission to trading of the new ordinary shares on AIM and of the American Depositary Receipts on the Nasdaq Global Market are expected to occur on 24 April 2019.
About Mereo
Mereo is a biopharmaceutical company focused on the development and commercialisation of innovative therapeutics that aim to improve outcomes for patients with rare diseases. Mereo's strategy is to selectively acquire product candidates that have substantial preclinical, clinical and manufacturing data packages. Mereo's four product candidates have previously generated positive clinical data for Mereo's target indications or in related indications. Mereo has commenced randomised, placebo-controlled Phase 2 clinical trials for all four of the product candidates and recently completed two of these.
BPS-804 for osteogenesis imperfecta (OI). In October 2018, the Company announced completion of enrollment of 112 adult patients in a Phase 2b dose ranging study with initial data expected in Q2 2019 and top-line dose ranging data in late 2019. A pediatric Phase 3 study design has also been approved by the EMA. BPS-804 has orphan designation in the U.S. and the EU and has been accepted into the PRIME and Adaptive Pathways in EU;
MPH-966 for alpha-1 antitrypsin deficiency (AATD). The Company recently announced dosing of the first patient in a Phase 2 dose ranging study in the U.S. with data expected in late 2019;
BCT-197 for severe exacerbations of COPD (AECOPD). The Company announced positive Phase 2 data in May 2018 and recently announced the positive outcome of the End of Phase 2 Type B meeting with the FDA with an agreement in principle on the primary and secondary end points for the pivotal Phase 3 clinical study design; and
BGS-649 for hypogonadotropic hypogonadism (HH). The Company announced positive top-line Phase 2b data in March 2018 and positive results from the Phase 2b safety extension study in December 2018.
For Further Enquiries:
Mereo +44 (0)333 023 7300
Denise Scots-Knight, Chief Executive Officer
Richard Jones, Chief Financial Officer
Evercore (Financial Adviser to Mereo) +44 (0)20 7653 6000
Julian Oakley
Tom Watson
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker to Mereo) +44 (0)20 7894 7000
Phil Davies
Will Goode
RBC Capital Markets (Joint Broker to Mereo) +44 (0)20 7653 4000
Rupert Walford
Jamil Miah
FTI Consulting (Public Relations Adviser to Mereo)
Simon Conway +44 (0)20 3727 1000
Brett Pollard
Burns McClellan (US Public Relations Adviser to Mereo) +01 (0) 212 213 0006
Lisa Burns
Jill Steier
https://www.globenewswire.com/news-release/2019/04/18/1806216/0/en/Mereo-BioPharma-Group-plc-Mereo-or-the-Company-or-the-Group-Merger-Update-Acquisition-of-OncoMed-Pharmaceuticals-Inc-OncoMed-Result-of-OncoMed-Stockholder-Meeting.html
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