Mereo jumps on navicixizumab deal with Oncologie
UK-based rare diseases specialist Mereo BioPharma (LON: MPH) was trading 19% higher as Monday’s trading neared its conclusion.
The company’s licensing agreement with Sino-American biotech Oncologie was announced that day, a deal that could earn Mereo more than $300 million if all goes to plan.
This global license agreement is for the development and commercialization of navicixizumab, an anti-DLL4/VEGF bispecific antibody currently being evaluated in an ongoing Phase Ib study in combination with paclitaxel in patients with advanced heavily pre-treated ovarian cancer.
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