Recently formed Mereo BioPharma raised the cash from Invesco and Woodford Investment, and issued an equity stake to Novartis.
Pharmaceutical firm Novartis acquired an equity stake in UK-based biopharmaceutical company Mereo BioPharma Group in return for three of its clinical-stage development programmes, as part of a $119m series A round yesterday.
Asset management firm Woodford Investment Management and investment firm Invesco supplied the capital for the series A round, but Novartis has pledged to participate as an investor in future rounds.
Founded in March this year, Mereo aims to fund and develop specialist products from large pharmaceutical or biotechnology…
