
Novartis Creates Biotech Spin-Off Mereo
The new biotech company, Mereo, is based in the United Kingdom, and kicks off with three mid-stage assets from Novartis.
Novartis
Mereo is a new biotech company based in the United Kingdom, with a mission to acquire and develop innovative medicines. Under the terms of the agreement, Novartis will have an equity stake in Mereo and upon successful development and commercialization of the compounds, Novartis is entitled to receive milestone payments and royalties from sales.
"We are pleased that through this deal with Mereo, we have found a way to work together to bring these valued innovations to patients," said David Epstein, head of Novartis Pharmaceuticals, in a press statement.
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