Mereo BioPharma and OncoMed Pharma to merge
UK-based rare and specialty diseases specialist Mereo BioPharma (AIM: MPH) and US oncology focused OncoMed Pharmaceuticals (Nasdaq: OMED) today announce the proposed combination of the companies.
The transaction, via a all-stock deal valued at $57.4 million based on Mereo's closing share price of 190 pence on Tuesday, has been unanimously approved by the board of directors of each company. The transaction is expected to complete in the first half of 2019.
Subject to potential adjustment, based upon an OncoMed net cash balance of $38 million at completion, current Mereo shareholders are expected to own around 75% of the issued share capital of the enlarged group, while current OncoMed shareholders will hold about 25%.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze