Mereo Licenses Setrusumab To Ultragenyx For Osteogenesis Imperfecta
Ultragenyx hopes to expand its bone disease franchise in a deal that frees up Mereo to focus on its anti-TIGIT immuno-oncology pipeline asset.
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Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts.
Investors keep piling into biotech stocks and British companies have been reaping the benefits this week.
Although SRF813 isn’t likely to reach the clinic until 2021, GSK likes cell therapy’s monotherapy and combination potential. Lilly bids $880m to acquire neurodegenerative cell therapy firm Prevail.