Mereo BioPharma: Targeting TIGIT thoughtfully
Mereo BioPharma is set to progress its promising anti-TIGIT antibody, etigilimab, into Phase Ib/II trials for multiple solid tumour types in Q420. The study will focus on less common tumour types, including several rare cancers, and employ a flexible design to respond rapidly if data is promising. Phase II alvelestat results are expected in H221 for AATD, with Phase Ib data for COVID-19 likely in mid-21. A partner to progress setrusumab (osteogenesis imperfecta, OI) into the Phase III registration trial is expected to be announced soon. Similarly, partnering news for the non-core assets, leflutrozole and acumapimod, is anticipated. Our valuation, based on conservative assumptions, is $741m (£570m), equivalent to $5.06/ADS (101p/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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