Trinity Delta Lighthouse: Mereo BioPharma
Trinity Delta view: Mereo BioPharma has developed a portfolio of innovative oncology and rare disease products. The strategy is to progress these to a sizeable value-inflection point and then partner with a larger player. Management intends to retain some rights for self-commercialisation, with the longer-term goal to create a self-sustaining speciality pharmaceutical company that addresses oncology, orphan and rare diseases. This sizeable fund raise is a tangible validation of the approach and allows management to better pursue its strategy. In line with our policy we suspend our valuation and forecasts, with the intention of reinstating them as soon as practicable. For context, our previous valuation was £442m ($574m), equivalent to 412p/share or $20.60/ADS (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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