Mereo BioPharma and OncoMed, two pharmaceutical companies, announced a $57.4m merger. Mereo shareholders are expected to own approximately 75% of the new company, while current OncoMed shareholders are expected to own approximately 25%. Commenting on the announcement, OncoMed's President and Chief Executive Officer, Dr John Lewicki, said: "We believe this is a value-enhancing transaction for both companies, forming an organization with a much expanded pipeline of diversified assets and strengthened capabilities and resources. We look forward to working closely with the Mereo team to finalize the transaction and assist in assimilation of the combined assets."