Mereo BioPharma Group plc Enters Option and License Agreement with Sentynl Therapeutics for Alvelestat

Mereo BioPharma Group plc has signed 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). The agreement includes a non-refundable option fee, and Mereo is eligible to receive $40 million in upfront and R&D payments, up to $435 million in potential milestones, and double-digit tiered royalties on U.S. sales upon option exercise.