Mereo BioPharma Group 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). Mereo will receive a non-refundable option fee and is eligible for up to $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.