Mereo BioPharma Group plc Appointment of Chief Financial Officer (4374O)
07 November 2016 - 6:10PM
UK Regulatory
TIDMMPH
RNS Number : 4374O
Mereo BioPharma Group plc
07 November 2016
Mereo BioPharma Group plc
("Mereo" or the "Company" or the "Group")
Appointment of Chief Financial Officer
London, 7 November 2016 - Mereo BioPharma Group plc (AIM: MPH),
a clinical stage, UK-based, biopharmaceutical company focused on
rare and specialty diseases, today announces that Richard CM Jones
has been appointed Chief Financial Officer of the Company and will
join the Board of Directors in early 2017.
Richard joins Mereo from Shield Therapeutics plc (AIM: STX)
where he has been Chief Financial Officer and Company Secretary. He
was initially appointed as a Non-Executive Director at Shield in
2010 before moving to his current position in 2011 where he had a
leading role establishing the finance operations and guiding Shield
through its recent IPO. Prior to this, Richard had a career in
investment banking, holding senior positions at Investec and Brewin
Dolphin Securities, where he advised healthcare clients on a wide
range of transactions and fundraisings including IPOs, M&A and
fundraisings. Richard qualified as a Chartered Accountant with PwC
in 1991.
Richard Bungay, the Company's Chief Financial Officer and Chief
Operating Officer has resigned from the Board of Directors and as
previously indicated will leave the Company in April 2017 in order
to ensure an orderly transition.
Dr Denise Scots-Knight, Chief Executive Officer of Mereo
BioPharma Group plc commented:
"I am delighted to announce the appointment of Richard Jones as
our Chief Financial Officer and to the Board of Directors. His
extensive financial experience in the healthcare industry,
initially as an investment banker in the sector and more recently
as CFO of Shield Therapeutics, complements that of the other
members of Mereo's executive team. Following our positive debut as
a listed company, the Board is confident that Richard will make a
valuable and significant contribution to Mereo's future success.
"
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. Richard Crispin
Morgan Jones, aged 50 years, has been a director of the following
companies during the five years preceding the date of this
announcement:
Current directorships Past Directorships
Shield Therapeutics plc Krysto Pharma Ltd
Shield Holdings AG Wolverleigh Consulting
Iron Therapeutics Switzerland Ltd
AG
Shield TX (UK) Limited
Phosphate Therapeutics
Limited
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.
Mr Jones has no beneficial interest in the ordinary shares of
the Company.
For Further Enquiries:
Mereo BioPharma Group
plc +44 (0)333 023 7319
Denise Scots-Knight, Chief
Executive Officer
Nominated Adviser and
Joint Broker
Cantor Fitzgerald Europe +44 (0)20 7894 7000
Phil Davies
Will Goode
Joint Broker
RBC Capital Markets +44 (0)20 7653 4000
Rupert Walford
Public Relations Adviser
to Mereo Biopharma
FTI Consulting +44 (0)20 3727 1000
Ben Atwell
Simon Conway
Brett Pollard
About Mereo
Mereo is a UK-based biopharmaceutical company focused on the
development of innovative medicines that aim to address unmet
medical needs in rare and specialty disease areas and improve
patient quality of life. The Company seeks to selectively acquire
development-stage product candidates with demonstrated clinically
meaningful data from large pharmaceutical companies and to rapidly
progress these product candidates to subsequent value inflection
points.
Mereo combines the operational discipline and efficiency of a
small company with the financial resources to conduct comprehensive
clinical studies. The Company has the option to directly
commercialise products, for example in orphan diseases, in addition
to partnering or divesting its products.
Mereo's initial portfolio consists of three mid-late stage
clinical assets that were acquired from Novartis in July 2015.
BPS-804 is being developed for the prevention of fractures
resulting from osteogenesis imperfecta (brittle bone disease);
acumapimod (BCT-197), is being developed to treat inflammation in
patients with an acute exacerbation of chronic obstructive
pulmonary disease; and BGS-649 is a once-weekly pill to restore
normal testosterone levels in men with hypogonadal
hypogonadism.
In H1 2016 the Company initiated a Phase 2 study with acumapimod
and a Phase 2b study with BGS-649. Mereo submitted its proposed
Phase 2b/3 pivotal study design package for BPS-804 to the
regulator in H1 2016 and expects to commence the trial during H1
2017, pending feedback from the regulator. Additional product
opportunities, from a range of large pharmaceutical companies, are
under active evaluation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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