- Mereo BioPharma signed a license agreement with AstraZeneca regarding an oral inhibitor of neutrophil elastase.

The agreement includes an option to acquire the inhibitor, called AZD9668, from AstraZeneca.

Under the exclusive license, Mereo BioPharma plans to conduct a Phase II study for the treatment of alpha-1 antitrypsin deficiency, a congenital orphan condition.

It has the right to exercise its option to acquire AZD9668 after the initiation of pivotal studies.

At 9:15am: [LON:MPH] Mereo Biopharma Group Ltd share price was +20p at 330p

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