<SEC-DOCUMENT>0001193125-22-165843.txt : 20220602
<SEC-HEADER>0001193125-22-165843.hdr.sgml : 20220602
<ACCEPTANCE-DATETIME>20220602090730
ACCESSION NUMBER:		0001193125-22-165843
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220602
FILED AS OF DATE:		20220602
DATE AS OF CHANGE:		20220602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mereo Biopharma Group plc
		CENTRAL INDEX KEY:			0001719714
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38452
		FILM NUMBER:		22989361

	BUSINESS ADDRESS:	
		STREET 1:		ONE CAVENDISH PLACE
		STREET 2:		FOURTH FLOOR
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1G0QF
		BUSINESS PHONE:		4403330237300

	MAIL ADDRESS:	
		STREET 1:		ONE CAVENDISH PLACE
		STREET 2:		FOURTH FLOOR
		CITY:			LONDON
		STATE:			X0
		ZIP:			W1G0QF
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d361561d6k.htm
<DESCRIPTION>6-K
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER PURSUANT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>TO RULE <FONT STYLE="white-space:nowrap">13a-16</FONT> or
<FONT STYLE="white-space:nowrap">15d-16</FONT> UNDER THE</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of June, 2022 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-38452</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>MEREO BIOPHARMA GROUP PLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> Floor, One Cavendish Place,</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>London, W1G 0QF, United Kingdom</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form
<FONT STYLE="white-space:nowrap">20-F&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form</FONT> <FONT STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9744;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1):&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7):&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibit Index </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Exhibits</B></P></TD>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d361561dex991.htm">Press release dated June&nbsp;
2, 2022 titled &#147;Mereo BioPharma To Present Data Update for the Phase 1b/2 Study (ACTIVATE) of Etigilimab and Nivolumab at 2022 ASCO Annual Meeting; Mereo Also Updates Capital Allocation and Portfolio Prioritization Plan.&#148; </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: June&nbsp;2, 2022 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>MEREO BIOPHARMA GROUP PLC</B></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Charles Sermon</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;Charles Sermon</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:&nbsp;General Counsel&nbsp;</TD></TR>
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<TYPE>EX-99.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Mereo BioPharma To Present Data Update for the Phase 1b/2 Study (ACTIVATE) of Etigilimab and Nivolumab at
2022&nbsp;ASCO&nbsp;Annual&nbsp;Meeting; </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Mereo Also Updates Capital Allocation and Portfolio Prioritization Plan </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>&#151;ACTIVATE includes 2 Complete Responses, 4 Partial Responses and 10 patients with Stable Disease as of April 2022 data cut <FONT
STYLE="white-space:nowrap">off--</FONT> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>&#151;Etigilimab safe and well tolerated, no new safety signals&#151; </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>&#151;Prioritization initiatives extend cash runway to late 2024 &#151; </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>London</B> <B>and Redwood City, Calif., June</B><B></B><B>&nbsp;2, 2022</B>&nbsp;- Mereo BioPharma Group plc (NASDAQ: MREO), (&#147;Mereo&#148; or
&#147;the Company&#148;), a clinical-stage biopharmaceutical company focused on rare diseases and oncology, today announced updated clinical data from its open-label Phase 1b/2 Study of Etigilimab and Nivolumab in subjects with Select Locally
Advanced or Metastatic Solid Tumors (ACTIVATE). The data will be presented in a poster session at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting on June&nbsp;5, 2022. The Company also provided an update on its capital
allocation and portfolio prioritization plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The multicenter ACTIVATE study is designed to evaluate the efficacy, safety, tolerability, PK, and
pharmacodynamics of etigilimab, in combination with nivolumab, with dosing every two weeks. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of the cut off date of April&nbsp;20, 2022, there were 38
efficacy-evaluable subjects with a minimum of 1 staging scan or documented clinical progression. Treatment of etigilimab in combination with nivolumab has shown preliminary efficacy across multiple tumor types with 2 complete responses (CRs), 4
partial responses (PRs), and 10 stable disease (SDs) for an overall response rate (ORR) of 15.8% and disease control rate (DCR) of 42.1% in heavily <FONT STYLE="white-space:nowrap">pre-treated,</FONT>
<FONT STYLE="white-space:nowrap">CPI-na&iuml;ve</FONT> subjects. Additionally, 7 subjects with clinical benefit remained on study treatment for &#8805; 18 weeks. Clinical benefit was noted in tumor types not typically responsive to immune checkpoint
inhibitor monotherapy. The combination of etigilimab and nivolumab has been safe and well tolerated, with no new treatment-related SAEs or safety signals observed <FONT STYLE="white-space:nowrap">to-date.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are very pleased with these updated results from the ACTIVATE study and look forward to sharing our findings at ASCO,&#148; said Dr.&nbsp;Suba
Krishnan, Senior Vice President, Clinical Development of Mereo. &#147;We are encouraged by the results reported as of the <FONT STYLE="white-space:nowrap">cut-off</FONT> date, especially the early efficacy noted in cervical cancer, where we have
seen two complete responses and two cases of stable disease among five subjects, and in uveal melanoma subjects in the rare tumor cohort, where we saw one partial response and two stable disease with over 20 weeks on study treatment. While these
early data are encouraging for our differentiated clinical strategy, we will continue to monitor emerging clinical data on other anti-TIGIT therapeutics as we determine the most appropriate path forward for etigilimab.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Updated Capital Allocation and Portfolio Prioritization Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mereo also announced the outcome of a review to update its capital allocation strategy, including general and administrative and other costs, and portfolio
prioritization in light of current market conditions and recent industry clinical data announcements. This review was undertaken with the aim of maximizing shareholder value. Based on these initiatives, the Company now expects its current cash
runway will be extended from &#147;into&#148; 2024 to late 2024. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The portfolio, in order of development stage, is as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Setrusumab for Osteogenesis Imperfecta (OI)</B>: As planned, Mereo will target its investment toward the
activities required in support of the EU and UK territories and the ongoing collaboration with Ultragenyx Pharmaceutical, Inc. The Phase 2/3 in <FONT STYLE="white-space:nowrap">5-25</FONT> year olds has been initiated by Ultragenyx and an update on
the Phase 2 is expected before the end of 2022. </P></TD></TR></TABLE>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Alvelestat for
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Alpha-1-Anti-Trypsin</FONT></FONT> Deficiency (AATD)</B>: Mereo recently announced positive <FONT STYLE="white-space:nowrap">top-line</FONT> data from the Phase 2 study of alvelestat
in AATD. The Company intends to complete further analysis of the Phase 2 data during 2H 2022 and will evaluate further options for the program once it has completed an
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">end-of-Phase</FONT></FONT> 2 meeting with the FDA (intended by end of 2022) and an EMA scientific advisory meeting (thereafter). As previously planned, no additional clinical
development expense will be incurred for this program from the current cash resources. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Etigilimab in Oncology: </B>Mereo intends to complete enrollment in the Phase 1b part of the previously
planned Phase 1b/2 study in Q3 2022. The Company will then evaluate further options based on the Phase 1b data and external factors, including clinical data from other anti-TIGIT programs. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mereo will continue to explore a range of additional financing options for its programs, including partnerships, which may include retention of certain rights
and/or territories, as well as <FONT STYLE="white-space:nowrap">non-dilutive</FONT> financing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We conducted this strategic review over the last few
months in light of current market conditions and emerging external clinical data, to focus the Company&#146;s resources on our lead programs,&#148; said Dr.&nbsp;Denise Scots-Knight, Chief Executive Officer of Mereo. &#147;As a result of our updated
capital allocation plan, our current cash balance of $111.4&nbsp;million (as of March&nbsp;31, 2022) will now support our operating runway into late 2024. We believe this puts Mereo in a stronger position to maximize shareholder value and deliver on
multiple milestones over the next two years as we focus on our mission of developing transformative therapies.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Details of the ASCO data
presentation are as follows: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Abstract Title: </B>A Phase 1b/2 Study of Etigilimab (MPH313) and Nivolumab in Subjects with Select Locally Advanced
or Metastatic Solid Tumors (ACTIVATE) </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Session Date</B><B></B><B>&nbsp;&amp; Time:</B> Sunday, June&nbsp;5 at 9AM ET </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Session Title:</B> Developmental Therapeutics&#151;Immunotherapy </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Abstract ID</B>: 2651 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Mereo BioPharma </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mereo BioPharma is a biopharmaceutical company focused on the development of innovative therapeutics for rare diseases and in oncology and plans to
commercialize selected rare disease programs. The Company has developed a portfolio of six clinical stage product candidates. The Company has two rare disease product candidates, setrusumab for the treatment of osteogenesis imperfecta (OI) and
alvelestat for the treatment of severe <FONT STYLE="white-space:nowrap">Alpha-1</FONT> antitrypsin deficiency (AATD) and Bronchiolitis Obliterans Syndrome (BOS). The Company&#146;s partner, Ultragenyx Pharmaceutical, Inc., has initiated a pivotal
Phase 2/3 pediatric study in young adults <FONT STYLE="white-space:nowrap">(5-25</FONT> years old) for setrusumab in OI and expects to initiate a study in pediatric patients <FONT STYLE="white-space:nowrap">(2-5</FONT> years old) in the second half
of 2022. The partnership with Ultragenyx includes potential milestone payments of up to $254&nbsp;million and royalties to Mereo on Ultragenyx territories. Mereo has retained EU and UK commercial rights and will pay Ultragenyx royalties on those
territories. Alvelestat has received U.S. Orphan Drug Designation for the treatment of AATD and positive <FONT STYLE="white-space:nowrap">top-line</FONT> data were recently reported from a Phase 2 <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">proof-of-concept</FONT></FONT> study in North America, Europe and the UK. Mereo&#146;s lead oncology product candidate, etigilimab (anti-TIGIT), is currently in an open label Phase 1b/2 basket study evaluating anti-TIGIT
in combination with an <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">anti-PD-1</FONT></FONT> in a range of tumor types including three rare tumors and three gynecological carcinomas, cervical, ovarian, and endometrial carcinomas.
The Company&#146;s second oncology product, navicixizumab, for the treatment of late line ovarian cancer, has completed a Phase 1 study and has been partnered with OncXerna Therapeutics, Inc., formerly Oncologie, Inc. The global licensing agreement
with OncXerna includes payments of up to $300&nbsp;million in milestones and royalties. OncXerna has stated that they intend to initiate a Phase 3 trial of navicixizumab in late line ovarian cancer patients. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains &#147;forward-looking statements.&#148; All statements other than statements of historical fact contained in this press release are
forward-looking statements within the meaning of Section&nbsp;27A of the United States Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and Section&nbsp;21E of the United States Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the
words &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;plan,&#148; &#147;intend,&#148; &#147;foresee,&#148; &#147;should,&#148; &#147;would,&#148; &#147;could,&#148; &#147;may,&#148; &#147;estimate,&#148; &#147;outlook&#148;
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&#146;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. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All of the Company&#146;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&#146;s historical experience and its present expectations or projections. You should
carefully consider the foregoing factors and the other risks and uncertainties that affect the Company&#146;s business, including those described in the &#147;Risk Factors&#148; section of its latest Annual Report on Form <FONT
STYLE="white-space:nowrap">20-F,</FONT> reports on Form <FONT STYLE="white-space:nowrap">6-K</FONT> and other documents furnished or filed from time to time by the Company with the Securities and Exchange Commission. The Company wishes to caution
you 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 of our 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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Mereo BioPharma Contacts:</B></TD>
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<TD VALIGN="top"><B>Mereo</B></TD>
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<TD VALIGN="top"><B>+44 (0)333 023 7300</B></TD></TR>
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<TD VALIGN="top">Denise Scots-Knight, Chief Executive Officer</TD>
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<TD VALIGN="top">Christine Fox, Chief Financial Officer</TD>
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<TD VALIGN="top"><B>Burns McClellan (Investor Relations Adviser to Mereo)</B></TD>
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<TD VALIGN="top"><B>+01 212 213 0006</B></TD></TR>
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<TD VALIGN="top">Lee Roth</TD>
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<TD VALIGN="top"><B>Investors</B></TD>
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<TD VALIGN="top">investors@mereobiopharma.com</TD></TR>
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