ICON is sole provider of clinical development services
Dublin, Ireland – ICON plc, (NASDAQ: ICLR) a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, today announced a partnership with Mereo BioPharma Group Ltd, a recently-formed speciality biopharmaceutical company. Under the partnership, ICON will be the sole provider of clinical development services to Mereo.
Mereo is a new UK company that is focused on acquiring, rapidly developing and commercialising innovative medicines that are targeted at rare and specialist disease areas. The company's initial portfolio consists of clinical-stage products acquired from Novartis and are targeted at brittle bone syndrome, acute exacerbations of chronic obstructive pulmonary disease and hypogonadotropic hypogonadism.
Commenting on the partnership, Ciaran Murray, CEO, ICON plc, said: "We are delighted to have been selected as Mereo's clinical development partner. It is a further endorsement of ICON's expertise in operating under partnership models which leverage our deep industry expertise, operational excellence and differentiated technology solutions. We look forward to helping Mereo accelerate the development of their pipeline and bring to market drugs that will enhance the quality of patients' lives."
Mereo BioPharma's CEO, Dr Denise Scots-Knight, commented: "Our partnership with ICON provides us with a dedicated and experienced global team that is already working closely with Mereo. The relationship is designed not only to help us conduct global clinical studies as we develop our product portfolio, but also to leverage ICON's broader consulting expertise. We look forward to a fruitful alliance, progressing our pipeline in the clinic and ultimately delivering new valuable medicines to patients."
About Mereo BioPharma Group
Founded in March 2015, London-based Mereo funds and develops novel, innovative specialist focused products from large pharmaceutical or biotechnology companies. Mereo has acquired an initial mid-late stage portfolio of three exceptionally well characterised novel products for the treatment of diseases with considerable unmet medical need from Novartis Pharmaceuticals. Each of these programmes has a comprehensive dataset for both pre-clinical and proof-of-concept clinical studies. Mereo will rapidly progress each of the products through further value inflection points before partnering, divesting or directly commercialising its products. Additional product opportunities are under evaluation.
Mereo's focus is the development of innovative medicines that have the potential to significantly transform the lives of patients suffering from rare and other specialised conditions around the world. To do this, the Company depends on the combination of its team's expertise in selecting and acquiring product opportunities, creating value in the development pipeline and structuring creative transactions. Mereo's internal expertise is complemented by a unique partnership with a leading global CRO, ICON. Further information is at http://www.mereobiopharma.com/
About ICON plc
ICON plc is a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries. The company specialises in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. With headquarters in Dublin, Ireland, ICON currently, operates from 81 locations in 37 countries and has approximately 11,300 employees.
ICON Media Contact
Rebecca Power
Weber Shandwick
Tel: +44 (0) 207 067 0866
Email: [email protected]
This press release contains forward-looking statements. These statements are based on management's current expectations and information currently available, including current economic and industry conditions. These statements are not guarantees of future performance or actual results, and actual results, developments and business decisions may differ from those stated in this press release. The forward-looking statements are subject to future events, risks, uncertainties and other factors that could cause actual results to differ materially from those projected in the statements, including, but not limited to, the ability to enter into new contracts, maintain client relationships, manage the opening of new offices and offering of new services, the integration of new business mergers and acquisitions, as well as economic and global market conditions and other risks and uncertainties detailed from time to time in SEC reports filed by ICON, all of which are difficult to predict and some of which are beyond our control. For these reasons, you should not place undue reliance on these forward-looking statements when making investment decisions. The word "expected" and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only as of the date they are made and we do not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise. More information about the risks and uncertainties relating to these forward-looking statements may be found in SEC reports filed by ICON, including its Form 20-F, F-1, S-8 and F-3, which are available on the SEC's website at http://www.sec.gov.