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Deal snapshot: MEREO BIOPHARMA TO LICENSE ASTRAZENECA DRUG, WITH OPTION TO BUY.

MANews-(C)2009-2017

UK-based biopharmaceutical company Mereo BioPharma Group plc (AIM: MPH) has reached an agreement with UK-based drugmaker AstraZeneca (NYSE: AZN) for an exclusive license, including an option to acquire, AZD9668, an oral inhibitor of neutrophil elastase, the company said on Monday.

Under the exclusive license the company plans to conduct a Phase II study for the treatment of alpha-1 antitrypsin deficiency, a congenital orphan condition. The company has the right to exercise its option to acquire AZD9668 after the initiation of pivotal studies.

Country: UK

Sector: Pharmaceuticals

Target: Exclusive license to AZD9668, an oral inhibitor of neutrophil elastase

Buyer: Mereo BioPharma

Vendor: AstraZeneca

Deal size in USD: 5m

Type: Corporate Acquisition

Financing: Cash and Stock

Status: Agreed

Buyer advisor: , ,

Comment: Deal includes option to buy

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Oct 30, 2017
Words:127
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