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Mereo Biopharma Group

Path cleared for partnering of acumapimod (BCT-197)

Mereo BioPharma had previously reported very promising Phase II data suggesting that acumapimod is an effective treatment of AECOPD, and on the back of this, has already generated significant interest from various potential partners. However, uncertainty about the route-to-market for acumapimod had hindered negotiations; with this now better understood, we expect Mereo BioPharma to soon enter more meaningful discussions with potential partners that could result in a deal by year end. Our valuation of Mereo BioPharma is currently under review, as the company is executing the proposed business combination with NASDAQ-listed OncoMed Pharmaceuticalsin (due to complete in the coming weeks). Prior to the announced combination, we valued Mereo BioPharma at £510m, or 615p/share.

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  • 16 Apr 19
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Hutchison China Meditech

Proposed listing in Hong Kong and global offering

Chi-Med has submitted an application to The Stock Exchange of Hong Kong (SEHK) to apply for its shares to be listed in its home market, on the Main Board of the SEHK, during Q319. This listing would be alongside its current listings on the AIM market in London and the NASDAQ Global Select Market in New York.

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  • 15 Apr 19
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Hutchison China Meditech

AACR 2019: Savolitinib in the spotlight in NSCLC

Data at AACR from two key non-small cell lung cancer (NSCLC) trials has shown that savolitinib has encouraging anti-tumour activity and an acceptable safety profile both as monotherapy in exon 14m/del NSCLC, and in combination with osimertinib in MET+ EGFR-TKI refractory NSCLC. These presentations increase our confidence in Hutchison China MediTech (Chi-Med) and partner AstraZeneca’s ability to launch savolitinib, as the first available selective c-Met inhibitor, in its respective NSCLC settings in 2021 (China: MET exon 14m/del) and 2022 (Global: in combination with osimertinib), subject to positive trial read outs and subsequent approvals. We upgrade our valuation to $35.57/ADS or £54.72/share.

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  • 09 Apr 19
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Efficacy endpoint met in Phase II AML study 2 April 2019

In the Phase II trial in AML with bemcentinib in combination with low-dose cytarabine (LDAC), the pre-specified efficacy endpoint has been met; at least three patients out of the first 14 patients (21%) were required to achieve a clinical response.

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  • 02 Apr 19
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Further support for bemcentinib’s broad potential from preclinical data at AACR

Three posters on BerGenBio’s selective Axl inhibitor bemcentinib were presented at AACR, with data from preclinical studies on non-small cell lung cancer (NSCLC) and pancreatic cancer cells.

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  • 01 Apr 19
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NEXSTIM OYJ

Terms of the rights issue announced

Nexstim aims to raise c €5.2m through a pre-emptive rights issue and could raise a further €2.6m from attached warrants.

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  • 28 Mar 19
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