Mereo BioPharma Group plc and OncoMed Pharmaceuticals Inc. (OncoMed) announced the proposed combination of Mereo and OncoMed (the transaction). The Transaction has been unanimously approved by the Board of Directors of each company. Following completion, the Mereo Board of Directors will be expanded to 10 persons to accommodate the appointment of current OncoMeddirectors Michael Wyzga and Dr. Deepa Pakianathan as independent non-executive directors. Michael Wyzga currently serves as a Chief Financial Officer of Aura Biosciences Inc. and was formerly President and Chief Executive Officer of Radius Health Inc. and the Chief Financial Officer and Executive Vice President of Genzyme Corporation. Dr. Deepa Pakianathan is a Managing Member at Delphi Ventures and serves on the board of directors of Alder Biopharmaceuticals Inc., Karyopharm Therapeutics Inc., and Calithera Biosciences Inc. The existing Mereo Directors will continue to serve in their current positions. The Board will thus be comprised of eight non-executive and two executive Directors. Dr. John Lewicki, Chief Executive Officer of OncoMed, will continue as an advisor to Mereo as the Company explores partnership opportunities for the navicixizumab program. Following completion of the Transaction, it is proposed that new service contracts will be entered into with each of the new non-executive directors. The terms of these service contracts are still subject to negotiation but it is anticipated that they will be substantially similar to the service contracts of the existing non-executive directors of Mereo. Pursuant to Schedule 4 of the AIM Rules, Mereo will confirm the details of the service contracts once agreed.