TIDMMPH
RNS Number : 2171A
Mereo BioPharma Group plc
28 September 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON PUBLICATION OF
THIS ANNOUNCEMENT THIS INFORMATION IS NOW CONSIDERED IN THE PUBLIC
DOMAIN.
Mereo BioPharma Announces Changes to Board of Directors
London and Redwood City, Calif., September 28, 2020 - Mereo
BioPharma Group plc (NASDAQ: MREO, AIM: MPH), "Mereo" or "the
Company", a clinical-stage biopharmaceutical company focused on
oncology and rare diseases, today announces the appointments of two
new members to the Company's Board of Directors.
Dr. Brian Schwartz, former Chief Medical Officer of Arqule, Inc.
and Dr. Jeremy Bender, former Vice President of Corporate
Development at Gilead Sciences, Inc. and recently appointed Chief
Executive Officer of Day One Biopharmaceuticals, Inc., will join
Mereo's Board of Directors. Drs. Schwartz and Bender bring
significant oncology drug development and corporate development
experience to Mereo. In addition, in order to maintain the maximum
number of board members at nine, Paul Blackburn will be leaving
Mereo's Board of Directors after a five-year tenure as a
Non-Executive Director. The changes to the Mereo Board will be made
with effect from October 1, 2020.
"We are very pleased to strengthen our board of directors at
this important stage in Mereo's evolution," said Dr. Denise
Scots-Knight, Chief Executive Officer of Mereo. "Brian and Jeremy
are industry veterans with deep experience in clinical and
corporate development specifically within oncology and rare
diseases. Their collective skill sets will be an asset to Mereo as
we prepare to advance etigilimab, our anti-TIGIT antibody, into a
Phase 1b/2 combination study in the fourth quarter this year and
continue to execute on our broader rare disease pipeline
strategy."
Peter Fellner, Chairman of the Board of Directors of Mereo,
said: "Mereo is entering an exciting new chapter and we are
delighted to welcome Brian and Jeremy to our distinguished Board of
Directors. On behalf of the Board, we would also like to thank Paul
for his contributions over the past five years especially for his
leadership as Chairman of the Audit and Risk Committee. He leaves
the Board with the Company well financed and in a strong position
to execute on our strategy. We wish him the best in his future
endeavours."
About Dr. Brian Schwartz
Dr. Schwartz brings significant experience in oncology drug
development in both the biotechnology and pharmaceutical
industries. Dr. Schwartz most recently served as Chief Medical
Officer of Arqule Inc. (acquired for $2.7 billion by Merck &
Co. in 2020) where he served as a key member of the management team
and managed diverse interdisciplinary teams to advance preclinical
and clinical drug development programs in oncology and rare
diseases. Prior to joining Arqule in 2008, Dr. Schwartz served as
Chief Medical Officer and Senior Vice President, Clinical and
Regulatory Affairs, at Ziopharm Oncology, Inc., where he built and
led clinical, regulatory, and quality assurance departments
responsible for the development of new cancer drugs. Earlier in his
career, Dr. Schwartz held a number of positions at Bayer Healthcare
and Leo Laboratories. At Bayer, Dr. Schwartz was a key physician
responsible for the global clinical development of sorafenib
(Nexavar(R)) and has extensive regulatory experience working with
the FDA's Oncology Division, the European Medicines Evaluation
Agency (EMEA), and numerous other health authorities. Dr. Schwartz
received his medical degree from the University of Pretoria, South
Africa, practiced medicine, and worked at the University of Toronto
prior to his career in the biopharmaceutical industry.
About Dr. Jeremy Bender
Dr. Bender is a senior biopharma leader with broad experience
driving strategic decisions and transactions. Dr. Bender was
recently appointed Chief Executive Officer of DayOne
Biopharmaceuticals, Inc. He previously served as Vice President of
Corporate Development at Gilead Sciences, Inc. where he was
responsible for development and negotiation of partnerships,
alliances, joint ventures, equity investments, licensing
agreements, and M&A transactions including Gilead's $4.9
billion acquisition of Forty Seven, Inc., and the establishment of
a 10-year partnership with Arcus Biosciences Inc. to advance
next-generation cancer immunotherapies. Dr. Bender joined Gilead
from Tizona Therapeutics, Inc. where he was Chief Operating Officer
responsible for the Company's finance, operations, alliance, and
corporate development activities. Prior to Tizona, Dr. Bender was
Chief Business Officer of Sutro Biopharma, Inc. where he was
responsible for business development, alliance and project
management, external communications, and intellectual property
strategy. During his time at Sutro, he completed partnering
transactions with Celgene Corporation and EMD Serono. Dr. Bender
received his undergraduate degree in Biological Sciences from
Stanford University and his Ph.D.in Microbiology & Immunology
from the University of Colorado, where he worked on peripheral
T-cell selection in the labs of Philippa Marrack and John Kappler.
He also received an M.B.A. from the MIT Sloan School of
Management.
About Mereo BioPharma
Mereo BioPharma is a biopharmaceutical company focused on the
development and commercialization of innovative therapeutics that
aim to improve outcomes for oncology and rare diseases. Mereo's
lead oncology product candidate, etigilimab (Anti-TIGIT), has
completed a Phase 1a dose escalation clinical trial in patients
with advanced solid tumors and has been evaluated in a Phase 1b
study in combination with nivolumab in select tumor types. Mereo's
rare disease product portfolio consists of setrusumab, which has
completed a Phase 2b dose-ranging study in adults with osteogenesis
imperfecta (OI), as well as alvelestat, which is being investigated
in a Phase 2 proof-of-concept clinical trial in patients with
alpha-1 antitrypsin deficiency (AATD) and in a Phase 1b/2 clinical
trial in COVID-19 respiratory disease.
Additional Disclosures Required under the AIM Rules for
Companies
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies.
Brian Eric Schwartz, aged 58 years, holds or has held the
following directorships and partnerships in the last five
years:
Current directorships/partnerships Past directorships/partnerships
LifeSci Acquisition Corp None
Brian & Jennifer Schwartz Family LLC
Jeremy Bender, aged 49 years, holds or has held the following
directorships and partnerships in the last five years:
Current directorships/partnerships Past directorships/partnerships
Day One Biopharmaceuticals Holding None
Company, LLC
DOT-1 Therapeutics Inc.
Neither Brian Schwartz nor Jeremy Bender currently hold any
ordinary shares in the Company.
Save as set out above there are no further disclosures pursuant
to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for
Companies in respect of the appointment of Brian Schwartz and
Jeremy Bender.
The appointments of Brian Schwartz and Jeremy Bender as
Directors satisfy the rights of OrbiMed as previously announced by
the Company in conjunction with the completion of a $70 million
private placement on June 4, 2020.
Additional Information
The person responsible for arranging the release of this
information on behalf of the Company is Charles Sermon, General
Counsel.
Forward-Looking Statements
This Announcement contains "forward-looking statements." All
statements other than statements of historical fact contained in
this Announcement are forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as
amended and Section 21E of the United States Securities Exchange
Act of 1934, as amended. Forward-looking statements usually relate
to future events and are often identified by the words "believe,"
"expect," "anticipate," "plan," "intend," "foresee," "should,"
"would," "could," "may," "estimate," "outlook" and similar
expressions, including the negative thereof. The absence of these
words, however, does not mean that the statements are not
forward-looking. These forward-looking statements are based on the
Company's current expectations, beliefs and assumptions concerning
future developments and business conditions and their potential
effect on the Company. While management believes that these
forward-looking statements are reasonable as and when made, there
can be no assurance that future developments affecting the Company
will be those that it anticipates.
All of the Company's forward-looking statements involve known
and unknown risks and uncertainties, some of which are significant
or beyond its control and assumptions that could cause actual
results to differ materially from the Company's historical
experience and its present expectations. The foregoing factors and
the other risks and uncertainties that affect the Company's
business, including those described in its Annual Report on Form
20-F, Reports on Form 6-K and other documents filed from time to
time by the Company with the United States Securities and Exchange
Commission. You should not to place undue reliance on any
forward-looking statements, which speak only as of the date hereof.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements after the date they are made,
whether as a result of new information, future events or otherwise,
except to the extent required by law.
Mereo BioPharma Contacts:
Mereo +44 (0)333 023 7300
Denise Scots-Knight, Chief Executive Officer
N+1 Singer (Nominated Adviser and Broker to Mereo ) +44 (0)20 7496 3081
Phil Davies
Will Goode
Burns McClellan (US Investor Relations Adviser to Mereo ) + 01 212 213 0006
Lisa Burns
Steve Klass
FTI Consulting (UK Public Relations Adviser to Mereo ) +44 (0)20 3727 1000
Simon Conway
Ciara Martin
Investors investors@ mereo biopharma.com
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END
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