Mereo BioPharma files for IPO

UK-based Mereo BioPharma Group plc, a specialty biopharmaceutical company, has filed for an IPO. The number of shares that will be sold as well as the pricing terms have yet to be set. Mereo BioPharma plans on listing the stock on the NASDAQ under the ticker symbol “MREO.” Cowen and Company LLC, BMO Capital Markets Corp and RBC Capital Markets LLC are the lead underwriters. Mereo’s backers include Woodford Investment Management and Invesco.

PRESS RELEASE

London, 23 March 2018 – Mereo BioPharma Group plc (AIM: MPH) (the “Company” or “Mereo BioPharma”), a multi-asset biopharmaceutical company focused on the acquisition, development and commercialisation of innovative therapies that aim to improve outcomes for patients with rare and specialty diseases, announced today the filing of a registration statement on Form F-1 with the U.S. Securities Exchange Commission (“SEC”) relating to a proposed initial public offering of its American Depositary Shares (“ADSs”), representing ordinary shares in the capital of the Company (“Ordinary Shares”), in the United States and a proposed concurrent private placement of Ordinary Shares in Europe and other countries outside of the United States and Canada (together, the “Global Offering”). All ADSs and Ordinary Shares to be sold in the Global Offering will be offered by the Company. The number of Ordinary Shares to be represented by each ADS, the number of ADSs and Ordinary Shares to be offered and the price range for the Global Offering have not yet been determined. The Company has applied to have its ADSs listed on the Nasdaq Global Market under the symbol “MREO”. Upon completion of the Global Offering, the Ordinary Shares will continue to be admitted to trading on the AIM market of the London Stock Exchange plc under the symbol “MPH”.

Cowen and Company, LLC, BMO Capital Markets Corp. and RBC Capital Markets, LLC are acting as book-running managers for the Global Offering. JMP Securities LLC is acting as lead manager and Cantor Fitzgerald Europe is acting as co-manager.

The Global Offering will be made only by means of a prospectus, which, for the avoidance of doubt, will not constitute a “prospectus” for the purposes of the Prospectus Directive (as defined below) and has not been reviewed by any competent authority in any Member State (as defined below).

When available, copies of the preliminary prospectus relating to and describing the terms of the Global Offering may be obtained from the offices of Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (631) 274-2806; BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, by telephone at 800-414-3627, or by email at bmoprospectus@bmo.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or email to equityprospectus@rbccm.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.