Mereo BioPharma: Raring to go in rare diseases
Mereo BioPharma has built a rich pipeline of four late-stage clinical assets as it focuses on becoming a rare disease, specialty pharmaceutical company. Its orphan disease products are BPS-804 for osteogenesis imperfecta (brittle bone disease), and MPH-966 for the treatment of alpha-1 antitrypsin deficiency (AATD). The strategy is to in-license more late-stage assets for the treatment of rare diseases. Two other programmes for larger indications have already generated compelling Phase II data. Mereo BioPharma aims to out-licence these, with the first deal expected in 2019. We value the company, using an rNPV model, at £510m, or 615p a share (fully diluted).Mereo Biopharma Group is engaged in the research and development of novel biopharmaceuticals for the treatment of rare and specialty diseases. Co. operates through three segment which are the respiratory unit, endocrinology disorders unit, orphan diseases unit. Respiratory unit develops drugs to treat respiratory diseases. Endocrinology disorders unit develops drugs to treat endocrine disorders. Orphan diseases unit develops drugs to treat various orphan diseases. Co. has two products which called BPS-804 and BGS-649.
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