Mere­o's biggest share­hold­er eyes ma­jor changes amid stock falloff

UK-based biotech Mereo Bio­Phar­ma is fac­ing some heat from one of its prin­ci­pal share­hold­ers as it looks to make sev­er­al changes to the biotech’s board amid some re­cent road­blocks for the com­pa­ny.

On Mon­day, the biotech an­nounced that it re­spond­ed to a let­ter from Rubric Cap­i­tal Man­age­ment, a New York-based cap­i­tal firm, call­ing for a gen­er­al meet­ing of Mereo share­hold­ers to re­move four of its di­rec­tors and re­place them with di­rec­tors named by Rubric.

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