Mereo BioPharma Group, which is developing rare disease drug candidates acquired from large pharmas, announced terms for its IPO on Monday.
The London, United Kingdom-based company plans to raise $70 million by offering 4 million ADSs at a price of $17.62. At that price, Mereo would command a market value of $383 million.
Mereo BioPharma Group was founded in 2015 and plans to list on the Nasdaq under the symbol MREO. Cowen & Company, BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 16, 2018.
