Mereo BioPharma Signs Alvelestat Option & License Deal with Sentynl

Mereo BioPharma Group plc announced an Option and License Agreement with Sentynl Therapeutics, Inc. for the U.S. commercial and global manufacturing rights to alvelestat, a treatment for alpha-1 antitrypsin deficiency-associated lung disease (AATD-LD). Under the agreement, Mereo will receive a non-refundable option fee and, upon option exercise, is eligible for $40 million in upfront and R&D payments, up to $435 million in potential milestones, and double-digit tiered royalties on U.S. sales. Mereo will lead the global Phase 3 study and regulatory interactions.