Mereo BioPharma's partner, Ultragenyx Pharmaceutical Inc., has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for setrusumab (UX143) for the treatment of osteogenesis imperfecta (OI). This designation aims to reduce the risk of fracture associated with OI Type I, III, or IV in patients 2 years of age and older.
The FDA's decision was supported by preliminary clinical evidence, including positive 14-month results from the Phase 2 portion of the Orbit study and the completed Phase 2b ASTEROID study. These studies demonstrated a rapid and clinically meaningful decrease in fracture rate in patients treated with setrusumab.
Clinical Trial Progress and Data
Ultragenyx is actively advancing the Phase 3 Orbit and Cosmic studies of setrusumab in OI. The 14-month data from the Phase 2/3 Orbit study were presented by Ultragenyx at the American Society for Bone and Mineral Research (ASBMR) 2024 Annual Meeting. These findings underscore the potential of setrusumab to address the unmet medical needs of individuals with OI, who currently have no approved therapies.
Alvelestat Development
Mereo BioPharma anticipates that alvelestat will be Phase 3 ready around the end of 2024. The company remains in discussions with several potential partners regarding the development and commercialization of alvelestat for AATD.
Financial Position
As of September 30, 2024, Mereo BioPharma reported cash and cash equivalents of $80.5 million. The Company believes this will provide runway into 2027, through multiple key inflection points.
Management Commentary
"The Phase 3 program for setrusumab, led by our partners at Ultragenyx, continues to progress according to plan and we look forward to reporting the topline data during 2025," said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. "The recent receipt of Breakthrough Therapy designation from the U.S. FDA follows on from the PRIME designation we obtained in Europe. This reinforces the high unmet medical need for treatments for individuals affected by osteogenesis imperfecta (OI) who currently have no approved therapies, and the potential of setrusumab."
