Pharma BD Deal Intelligence

Mereo BioPharma Group plc / OncoMed Pharmaceuticals, Inc.

2018 · Reverse Merger · $57M · Complete

Announcement Sentiment

Neutral / mixed

UK-listed Mereo BioPharma announced December 2018 stock-for-stock reverse merger with US-listed OncoMed Pharmaceuticals to gain Nasdaq listing and add two oncology candidates (navicixizumab anti-DLL4/VEGF bispecific and etigilimab anti-TIGIT). OncoMed shareholders received Mereo ADSs plus contingent value rights, with former OncoMed holders owning ~25% of combined company. Strategically notable as a precedent-setting transatlantic biotech reverse merger structure. Closed April 23, 2019.

Did it work? Outcome assessment

Strategic verdict

Partially Achieved

Financial impact

Neutral

Pipeline outcome

Mixed

Assessment window: 5yr post-close.

Key facts

Announced Dec 05, 2018
Closed Apr 23, 2019
Deal value $57M
Deal type Reverse Merger
Therapeutic area Solid tumors (ovarian, colorectal); immuno-oncology
Indications Solid tumors (ovarian, colorectal); immuno-oncology
Key assets Navicixizumab (anti-DLL4/VEGF), etigilimab (anti-TIGIT)
Mechanism Anti-DLL4/VEGF bispecific antibody (navicixizumab); anti-TIGIT antibody (etigilimab)

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