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Mereo Under Fire As Shareholder Unrest Erupts

Rubric Demands Board Changes

 
• By Kevin Grogan

The UK biotech is developing three key assets - setrusumab, alvelestat and etigilimab - but according to its biggest stockholder, the progress being made is too slow and the share price is too low.

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Under Pressure: CEO Denise Scots-Knight • Source: Mereo BioPharma

Mereo BioPharma Group plc is under pressure from its largest shareholder, Rubric Capital Management, which has called on the UK biotech to remove four directors who "should be held accountable for the massive value destruction that has occurred during their tenure."

It has been a tricky time of late for Mereo, which was formerly a darling of the biotech investment community....

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