Mereo BioPharma: Rises on licensing agreement for its ovarian cancer drug

Mereo BioPharma

13/01/2020 15:15

** U.S.-listed shares of biopharmaceutical company  MREO.O 
up 17.14% at $2.46; stock among top pct gainers; Up after 3
straight sessions of low
    ** Co said it entered into global license agreement with
privately held Oncologie Inc to develop and sell MPHM's ovarian
cancer drug, navicixizumab  urn:newsml:reuters.com:*:nPnv46Y6a
    ** Navicixizumab is currently being tested in an early-stage
trial in combination with paclitaxel, a chemotherapy drug used
to treat ovarian, breast and non-small cell lung cancer, in
patients with advanced ovarian cancer
    ** Navicixizumab is one of the 2 product candidates co
acquired through its 2019 merger with OncoMed Pharmaceuticals,
MPHM said
    ** "While we believe navicixizumab is an exciting oncology
asset ... we continue to focus our efforts on the development of
our lead product candidate setrusumab for the treatment of
osteogenesis imperfecta, which continues to advance towards a
pivotal Phase 3 pediatric study"- MPHM
    ** MPHM will receive an upfront payment of $4 mln with an
additional payment of $2 mln conditionally
    ** Stock fell 80% in 2019

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 7786;))