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Mereo BioPharma Details Anti-TIGIT Study And Attracts US Investors

Raises $70m In Private Placement

 
• By John Davis

Mereo BioPharma’s completed private placement in the US will support clinical studies of its candidate immuno-oncology product etigilimab and a later-stage anti-sclerotin antibody product with potential in the treatment of brittle bone disease.  

Fundraising
• Source: Shutterstock

UK AIM- and US NASDAQ-quoted Mereo BioPharma Group PLC has raised $70m (£56m) from US investors, saying it will start a Phase Ib trial with etigilimab, its anticancer TIGIT inhibitor, in the fourth quarter of 2020, and seek a partner for its Phase III-ready lead product setrusumab for treatment of osteogenesis imperfecta.

Shares in the London, UK and Redwood City, CA-based biotech doubled to 50p on AIM on 4 June, when completion...

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