Shots:

• Mereo to receive $50M upfront & is eligible for ~$254M as milestones along with royalties on sales of therapy outside the EU. Ultragenyx will receive the royalties on sales of the therapy in the EU
• Ultragenyx to lead the global development of Setrusumab in both pediatric & adult patients. Ultragenyx gets an exclusive license to develop and commercialize Setrusumab in the US & ROW (Ex- EU) where Mereo retains commercial rights. Each party will be responsible for post-marketing commitments in their respective territories
• As per the 2015 agreement with Novartis- Mereo will pay Novartis a percentage of proceeds with Mereo receiving a substantial majority of the payments from Ultragenyx

 ­ Ref: GlobeNewswire | Image: Twitter