Dec. 17 Quick Takes: Ultragenyx gains rights to Mereo’s setrusumab; plus Verily’s $700M raise, dMed’s listing plans, Virios’ IPO
Ultragenyx gains ex-Europe rights to Mereo’s setrusumab
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) licensed ex-European rights to setrusumab from Mereo BioPharma Group plc (LSE:MPH; NASDAQ:MREO) for $50 million up front. The mAb for osteogenesis imperfecta, a rare genetic bone disease, is in Phase II testing. Mereo is eligible for up to $254 million in milestones, plus tiered royalties, while Ultragenyx is eligible for royalties on European sales. Mereo acquired the antibody in 2015 from Novartis AG (NYSE:NVS; SIX:NOVN), which is eligible for an undisclosed percentage of proceeds.
$700M round will support Verily’s commercial businesses
Verily Life Sciences raised $700 million in an investment round from existing investors, including Alphabet Inc. (NASDAQ:GOOG), Silver Lake, Temasek, Ontario Teachers’ Pension Plan. The firm said it plans to deploy the funds to support expansion of commercial businesses, such as Project Baseline, a digital platform that seeks to make clinical research more efficient; and Verily Health Platforms, which supports programs focused on population health, clinical care delivery and chronic disease management. Some money is earmarked for life sciences programs in surgery, pathology and immunology...