Document:

EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 
 DATED 10
February 2020 
 MEREO BIOPHARMA GROUP PLC 
  

 
 WARRANT
INSTRUMENT 
 relating to the issue of warrants entitling the holders to 

subscribe for Warrant Shares in the capital of 

MEREO BIOPHMARMA GROUP PLC 
  

 

 CONTENTS 
  

							
	1	  	DEFINITIONS AND INTERPRETATION	  	 	2	 
			
	2	  	CONSTITUTION AND FORM OF WARRANTS	  	 	5	 
			
	3	  	NUMBER OF WARRANT SHARES	  	 	6	 
			
	4	  	CERTIFICATES	  	 	6	 
			
	5	  	TIMING FOR EXERCISE OF SUBSCRIPTION RIGHTS	  	 	6	 
			
	6	  	EXERCISE OF SUBSCRIPTION RIGHTS	  	 	6	 
			
	7	  	COMPLETION	  	 	7	 
			
	8	  	TRANSFER OF WARRANTS	  	 	8	 
			
	9	  	MODIFICATION AND CESSATION OF RIGHTS	  	 	8	 
			
	10	  	INFORMATION AND RIGHTS OF WARRANTHOLDER(S)	  	 	8	 
			
	11	  	RESTRICTIONS ON AND UNDERTAKINGS OF THE COMPANY	  	 	9	 
			
	12	  	WARRANTIES	  	 	9	 
			
	13	  	NOTICES	  	 	10	 
			
	14	  	COSTS AND EXPENSES	  	 	10	 
			
	15	  	CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999	  	 	10	 
			
	16	  	FURTHER ASSURANCE	  	 	10	 
			
	17	  	SEVERABILITY	  	 	11	 
			
	18	  	GOVERNING LAW	  	 	11	 
		
	 SCHEDULE 1 FORM OF WARRANT CERTIFICATE
	  	 	12	 
		
	 SCHEDULE 2 CONDITIONS
	  	 	15	 

 THIS WARRANT INSTRUMENT is made on 10 February 2020 

BY: 
  

	(1)	 MEREO BIOPHARMA GROUP PLC, a public limited company incorporated in England and Wales with
company number 04206001 whose registered office is at 4th Floor, One, Cavendish Place, London, England, W1G 0QF (“Company”). 

BACKGROUND: 
  

	(A)	 The Company, by resolution of its directors, has agreed to issue Warrants to subscribe for Warrant Shares in
the capital of the Company on the terms set out in this instrument. 

  

	(B)	 Either all of the registered holders of shares in the Company have irrevocably waived all pre-emption rights conferred on them (whether by the Companies Act, the Articles or otherwise) or such pre-emption rights have been validly disapplied in relation to the
number of Warrants and shares in the Company issued pursuant to this instrument. 

  

	(C)	 This instrument has been executed by the Company as a deed in favour of the Warrantholder.

 IT IS AGREED: 
  

	1	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 In this instrument the following words and expressions shall (unless the context requires otherwise) have the
following meanings: 

  

			
	 AIM
	  	the AIM market operated by the London Stock Exchange;
		
	 Articles
	  	the articles of association of the Company for the time being;
		
	 Auditors
	  	the Company’s auditors;
		
	 Business Day
	  	a day (which for these purposes ends at 5.30 pm) on which banks are open for commercial business in the City of London other than a Saturday or Sunday;
		
	 Companies Act
	  	the Companies Act 2006;
		
	 Competitor
	  	means any entity (other than a reputable financial institution) whose business directly competes with the business carried out by a Group Company;
		
	 Conditions
	  	the terms and conditions set out in Schedule 2 (subject to any alterations made in accordance with the provisions of this instrument);

  
 2 

			
	 Consent
	  	the consent in writing of the Warrantholder(s) for the time being holding outstanding Warrants subject to outstanding Subscription Rights;
		
	 CREST
	  	the system of paperless settlement of trades and the holding of uncertificated shares administered by Euroclear or any other relevant paperless settlement system used in relation to the holding of uncertificated shares in the
Company;
		
	 Directors
	  	the board of directors of the Company (and/or, where relevant, a Group Company) for the time being;
		
	 Exercise Date
	  	the date of delivery to the registered office of the Company of the items specified in clause 6.2 (and the date of such delivery shall be the date on which such items are received at the Company’s registered office);
		
	 Final Date
	  	5 years from the date of this instrument;
		
	 London Stock Exchange
	  	London Stock Exchange plc;
		
	 Group
	  	(i) the Company and its subsidiaries (if any), (ii) any holding company of the Company, and (iii) any subsidiaries of such holding companies from time to time and Group Company means any member of the Group;
		
	 Issue Date
	  	the date of this instrument;
		
	 Market Abuse Regulation
	  	Market Abuse Regulation (Regulation 596/2014/EU);
		
	 Notice of Subscription
	  	the notice addressed to the Company by a Warrantholder exercising its Subscription Rights in the form, or substantially in the form, set out in the schedule to the Warrant Certificate;
		
	 Ordinary Shares
	  	ordinary shares in the capital of the Company and having the rights and privileges set out in the Articles;
		
	 Permitted Transferee
	  	 are:
  

(a)   a nominee of the Warrantholder;

 
 (b)   a subsidiary of the
Warrantholder;
  
 (c)   a
holding company of the Warrantholder; and
  

(d)   any subsidiaries of such holding companies from time to time.

  
 3 

			
	 Recognised Investment Exchange
	  	a recognised investment exchange or overseas investment exchange (within the meaning thereof given for the purposes of section 285 of the Financial Services and Markets Act 2000, and shall include, without limitation, AIM or
NASDAQ);
		
	 Register
	  	the register of persons for the time being entitled to the benefit of the Warrants to be maintained pursuant to the Conditions;
		
	 Registrars
	  	the registrars of the Company for the time being;
		
	 Subscription Price
	  	the subscription price per Warrant Share shall be 26.50 pence:
		
	 Subscription Rights
	  	the rights of the Warrantholder(s) to subscribe for Warrant Shares under clause 6;
		
	 Warrant Certificate
	  	a certificate evidencing a Warrantholder’s entitlement to Warrants in the form set out in Schedule 1;
		
	 Warrant Shares
	  	Ordinary Shares to be issued pursuant to the terms of the Warrants;
		
	 Warrantholder
	  	in relation to a Warrant, the person whose name appears in the Register as the holder of the Warrant; and
		
	 Warrants
	  	the warrants of the Company constituted by this instrument and all rights conferred by it (including the Subscription Rights).

  

	1.2	 In this instrument, unless the context otherwise requires: 

 

	 	1.2.1	 words and expressions defined in the Companies Act or the Articles shall have the same meanings in this
instrument (unless otherwise expressly defined in this instrument); 

  

	 	1.2.2	 headings are used for convenience only and shall be ignored in interpreting this instrument;

  

	 	1.2.3	 reference to a clause or schedule is a reference to a clause of, or schedule to, this instrument;

  

	 	1.2.4	 reference to (or to any specific provision of) this instrument or any other document or instrument shall be
construed as a reference to this instrument, that provision or that document or instrument as in force for the time being and as amended from time to time in accordance with its terms and the prior sanction of a Consent (where consent is required by
the terms of this instrument as a condition to such amendment being made); 

  
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	 	1.2.5	 reference to any gender includes all genders, references to the singular includes the plural (and vice versa)
and reference to persons includes bodies corporate, unincorporated associations and partnerships (whether or not any of the same have a separate legal personality); 

 

	 	1.2.6	 reference to a statutory provision includes reference to: 

 

	 	(a)	 the statute or statutory provision as modified or re-enacted from time
to time; and 

  

	 	(b)	 any subordinate legislation made under the statutory provision (as modified or
re-enacted as set out in clause 1.2.6(a) above); 

  

	 	1.2.7	 any words following the terms ‘including’, ‘include’, ‘in particular’, ‘for
example’ or any other similar expression shall be construed as illustrative and shall not limit the sense of the words, description, phrase or term preceding those words; and 

 

	 	1.2.8	 references to statutory obligations include obligations arising under articles of the Treaty establishing the
European Community, and regulations, directives and decisions of the European Union as well as United Kingdom Acts of Parliament and subordinate legislation. 

  

	1.3	 Unless otherwise specifically provided, where any notice, resolution or document is required by this instrument
to be signed by any person, the reproduction of the signature of such person by fax or email shall suffice, provided that confirmation by first class letter is despatched by close of business on the next following Business Day, in which case the
effective notice, resolution or document shall be that sent by fax or email (served in accordance with paragraphs 11 and 12 of Schedule 2), not the confirmatory letter. 

 

	1.4	 This instrument incorporates the schedules to it. 

 

	2	 CONSTITUTION AND FORM OF WARRANTS 

 

	2.1	 This instrument constitutes the Warrants, which in aggregate give the Warrantholder(s) the right, upon the
terms and subject to the conditions set out in this instrument, to subscribe in cash at a price per share equal to the Subscription Price for such number of Warrant Shares as is set out in clause 3. 

 

	2.2	 Each Warrantholder shall be entitled to subscribe in cash at the Subscription Price for that number of Warrant
Shares in respect of which it is entitled to be recorded as the holder in the Register on the terms set out in this instrument. 

  

	2.3	 The Warrants shall be in registered form. 

 

	2.4	 The Warrants are issued subject to the Articles and otherwise on the terms of this instrument (including the
Conditions). 

  
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	2.5	 The Company agrees with the Warrantholder(s) and, in consideration of being issued a Warrant Certificate, each
Warrantholder agrees with the Company that the Articles (insofar as they relate to the Warrants) and the terms of this instrument shall be binding upon the Company and each Warrantholder and all persons claiming through or under either of them.

  

	2.6	 No application will be made for the Warrants to be listed or dealt on any Recognised Investment Exchange (as
that term is defined in the Financial Services and Markets Act 2000 (as amended)). 

  

	3	 NUMBER OF WARRANT SHARES 

The number of Warrant Shares over which Warrants will be issued is 1,449,614. 

 

	4	 CERTIFICATES 

  

	4.1	 The Company shall issue to each Warrantholder a Warrant Certificate in respect of that number of Warrants to
which it is entitled as soon as reasonably practicable following a Warrantholder becoming entitled to such Warrants in accordance with clause 3. 

  

	4.2	 If a Warrant Certificate is mutilated, defaced, lost, stolen or destroyed, the Company will replace it on such
terms as to evidence and indemnity as the Company may reasonably require and subject to the Warrantholder who is seeking the replacement paying the Company’s reasonable costs (if any) in connection with the issue of the replacement.

  

	4.3	 Mutilated or defaced Warrant Certificates must be surrendered before replacements will be issued.

  

	5	 TIMING FOR EXERCISE OF SUBSCRIPTION RIGHTS  

 

	5.1	 The Subscription Rights may be exercised at any time from the date of this instrument until 17:00 GMT on the
Final Date and shall be exercised in accordance with clause 6. 

  

	5.2	 A failure by any Warrantholder to exercise its Subscription Rights ahead of such time on the Final Date shall
mean that such Warrantholder’s outstanding Warrants shall immediately lapse and be cancelled and such Warrantholder shall have no further rights under this instrument. 

 

	6	 EXERCISE OF SUBSCRIPTION RIGHTS 

 

	6.1	 Subject to the Warrantholder’s compliance with its obligations under the Market Abuse Regulation, the
Subscription Rights may be exercised in whole or in part at any time. 

  

	6.2	 In order to exercise its Subscription Rights validly, a Warrantholder must deliver the following items to the
registered office of the Company: 

  

	 	6.2.1	 the Warrant Certificate for the Warrants in respect of which Subscription Rights are being exercised, together
with the Notice of Subscription duly completed; 

  
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	 	6.2.2	 if required pursuant to clause 6.3, a remittance by banker’s draft, drawn on a UK clearing bank, (or such
other mode of payment as the Company and the Warrantholder shall agree); and 

  

	 	6.2.3	 the name and address of the Warrantholder to which the Warrant Shares arising on exercise of Subscription
Rights are to be issued. 

  

	6.3	 The Subscription Price for each of the Warrant Shares shall be satisfied by the payment by electronic transfer
to the Company’s bank account no later than two (2) Business Days after the relevant Warrant Shares have been credited to the Warrantholder’s CREST account (or the CREST account of any nominee or trustee nominated by the Warrantholder
in accordance with clause 7.1.3). 

  

	7	 COMPLETION 

  

	7.1	 Following a valid exercise of Subscription Rights by a Warrantholder, the Company shall in accordance with
clause 7.3: 

  

	 	7.1.1	 allot and issue credited as fully paid to the Warrantholder (or to its nominee or trustee as notified to the
Company in the Notice of Subscription) the Warrant Shares to which the Warrantholder is entitled by exercising the Subscription Rights (“Allotted Shares”); 

 

	 	7.1.2	 immediately following allotment and issue in accordance with clause 7.1.1, enter, or procure that the
Company’s Registrars enter the Warrantholder’s name (or its nominee’s or trustee’s name, as appropriate) in the register of members of the Company as the holder of the Allotted Shares; 

 

	 	7.1.3	 immediately following registration in accordance with clause 7.1.2, either send to the person identified by the
Warrantholder pursuant to clause 7.1.1, free of charge, share certificate(s) in respect of the Allotted Shares or credit such aggregate number of Allotted Shares to the Warrantholder’s (or its nominee’s or trustee’s) CREST stock
account; and 

  

	 	7.1.4	 apply for the admission of the Warrant Shares to trading on any Recognised Investment Exchange on which the
Ordinary Shares are listed, and shall use its reasonable endeavours to secure such admission to trading no later than ten (10) Business Days after such application. 

 

	7.2	 The obligations of the Company under clause 7.1 shall be fulfilled within ten (10) days of a valid
exercise of the Subscription Rights. 

  

	7.3	 The Allotted Shares shall: 

 

	 	7.3.1	 be allotted and issued fully paid; 

 

	 	7.3.2	 rank pari passu with the Ordinary Shares of the Company then in issue; 

  
 7 

	 	7.3.3	 rank for any dividend or other distribution which has previously been announced or declared if the date by
which the holder of Warrant Shares must be registered to participate in such dividend or other distribution is after the Exercise Date pursuant to which the Subscription Rights have been exercised; and 

 

	 	7.3.4	 be free from all claims, liens, charges, encumbrances, equities and third party rights. 

 

	7.4	 If following allotment of shares pursuant to the exercise of some of the Subscription Rights, some Subscription
Rights remain, the Company shall issue a Warrant Certificate to the Warrantholder within 15 Business Days for the balance of the Warrantholder’s Subscription Rights. 

 

	8	 TRANSFER OF WARRANTS 

 

	8.1	 Subject to clause 8.2, the Warrants may be transferred in whole by any Warrantholder to any person, provided
that the Company has given its prior written consent to such transfer. 

  

	8.2	 A Warrantholder has the right, with prior written notice, but without the consent of the Company, to transfer
the Warrants in whole to a Permitted Transferee, subject to compliance with the provisions of Schedule 2 hereto. 

  

	8.3	 Notwithstanding any other provisions of this instrument, no transfer shall be made to any person which is a
Competitor of the Company or any other Group Company. 

  

	8.4	 The provisions of Schedule 2 to this instrument shall regulate any transfer of a Warrant.

  

	9	 MODIFICATION AND CESSATION OF RIGHTS 

 

	9.1	 This instrument may be modified only with the prior sanction of Consent. 

 

	9.2	 This instrument ceases to have effect on the earlier of: 

 

	 	9.2.1	 the date upon which all Subscription Rights have been exercised in full; and 

 

	 	9.2.2	 the Final Date. 

  

	10	 INFORMATION AND RIGHTS OF WARRANTHOLDER(S)  

 

	10.1	 The Company shall:  

 

	 	10.1.1	 send to each Warrantholder a copy of its annual reports and audited accounts together with all documents
required by law to be annexed to that report at the same time they are provided to the holders of the Ordinary Shares; 

  

	 	10.1.2	 send to each Warrantholder copies of any statements, notices or circulars sent to the holders of the Ordinary
Shares; and 

  

	 	10.1.3	 give to each Warrantholder written notice of its intention to declare or pay a dividend or other distribution
on the Ordinary Shares no later than the date on which notice of the general meeting approving such dividend or distribution is sent to the holders of the Ordinary Shares. 

  
 8 

	10.2	 The Warrantholder(s) may attend all general meetings of members of the Company and meetings of the holders of
Ordinary Shares but may not vote at those meetings by virtue of or in respect of their holdings of Warrants. 

  

	10.3	 Each Warrantholder shall keep confidential any information received by it in its capacity as a Warrantholder
which is of a confidential nature except: 

  

	 	10.3.1	 as required by law or any applicable regulations; 

 

	 	10.3.2	 to the extent the information is in the public domain through no default of the Warrantholder; and

  

	 	10.3.3	 each Warrantholder will be entitled to divulge such information to any other Warrantholder and any proposed
transferee of Warrants on the same terms as to confidentiality. 

  

	11	 RESTRICTIONS ON AND UNDERTAKINGS OF THE COMPANY 

 

	11.1	 For so long as the Warrants are outstanding, the Company will: 

 

	 	11.1.1	 to the extent that the Company has a limit on its authorised share capital, keep available for issue and free
from pre-emptive rights, out of its authorised but unissued share capital, such number of Warrant Shares as will enable the Subscription Rights of the Warrantholder(s) to be satisfied in full;

  

	 	11.1.2	 ensure that the Directors have all necessary authorisations and disapplications of pre-emption (including under the Companies Act) to allot such number of Warrant Shares as will enable the Subscription Rights of the Warrantholder(s) to be satisfied in full at any time; 

 

	 	11.1.3	 notify the Warrantholder before cancelling the admission to trading of the Ordinary Shares on any Recognised
Investment Exchange on which the Ordinary Shares are traded from time to time; 

  

	 	11.1.4	 not make any issue, grant or distribution or take any other action the effect of which would be that on
exercise of any of the Subscription Rights it would be required to issue Warrant Shares at a discount to their nominal value; and 

  

	 	11.1.5	 not buy any Warrants unless it offers to buy Warrants from all Warrantholders in proportion to their respective
holdings of Warrants. 

  

	12	 WARRANTIES 

  

	12.1	 The Company warrants to the Warrantholder(s) that: 

 

	 	12.1.1	 it has the power to execute and to perform its obligations under this instrument; 

  
 9 

	 	12.1.2	 it has taken all action necessary to authorise the execution of, and the performance of its obligations under
this instrument; 

  

	 	12.1.3	 all Warrant Shares which may be issued upon the exercise of the rights represented by this Warrant will be,
upon issuance, be duly authorised, validly issued and fully paid and free of any liens and encumbrances; and 

  

	 	12.1.4	 the Ordinary Shares listed on AIM are duly admitted to trading thereon and no circumstances exist which may
cause the suspension or cancellation of such admission. 

  

	13	 NOTICES 

Any notice to the Warrantholder(s) required for the purposes of any provision of this instrument shall be given in accordance with the
provisions of paragraphs 10 to 13 (inclusive) of Schedule 2. 
  

	14	 COSTS AND EXPENSES 

 

	14.1	 The Company shall promptly pay to the Warrantholder(s) on the Warrantholder’s demand, the reasonable legal
expenses plus applicable VAT and disbursements incurred by the Warrantholder in connection with: 

  

	 	14.1.1	 any amendment or supplement to this instrument, or any proposal for such an amendment to be made, provided such
amendment or supplement has been requested or necessitated by the Company; and 

  

	 	14.1.2	 any consent or waiver by the Warrantholder(s) concerned under or in connection with this instrument or any
request for such a consent or waiver, provided that such consent or waiver has been requested or necessitated by the Company; and 

  

	 	14.1.3	 any step taken reasonably and properly by the Warrantholder with a view to the protection, exercise or
enforcement of any right or interest created by this instrument. 

  

	15	 CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 

A person who is not a party to this instrument shall have no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term
of this instrument. This clause does not affect any right or remedy of any person which exists or is available otherwise than pursuant to that Act. 
  

	16	 FURTHER ASSURANCE 

The Company shall, at its own cost and expense, execute all such deeds and documents and do all such acts and things as may reasonably be
required in order to give effect to this instrument, including vesting on issue the full legal and beneficial title to the Warrant Shares in the Warrantholder. 

  
 10 

	17	 SEVERABILITY 

Each of the provisions of this instrument is distinct and severable from the others and if at any time one or more of such provisions is or
becomes valid, unlawful or unenforceable (whether wholly or to any extent), the validity, lawfulness and enforceability of the remaining provisions (or the same provision to any other extent) of this instrument shall not in any way be affected or
impaired. 
  

	18	 GOVERNING LAW 

The provisions of this instrument and the Conditions and any dispute or claim arising out of or in connection with them (including any dispute
or claim relating to non-contractual obligations) shall be subject to and governed by English law and the Company and the Warrantholder(s) submit to the exclusive jurisdiction of the English Courts in relation
to any such dispute or claim. 
 The Company intends this instrument to be a deed poll and accordingly it or its duly authorised representatives execute and
deliver it as such. 

  
 11 

 SCHEDULE 1 

Form Of Warrant Certificate 

MEREO BIOPHMARMA GROUP PLC (“COMPANY”) 

A company registered in England and Wales 

under Company number 04206001 

WARRANT CERTIFICATE 
 This certificate is
issued pursuant to the warrant instrument issued by the Company on _______________ 2020 (“Warrant Instrument”). Words and expressions used in this certificate which are defined in the Warrant Instrument have the meanings given to
them in the Warrant Instrument. 
  

			
	Certificate number:	  	[•]
		
	Date of issue:	  	                                 2020
		
	Name and address of Warrantholder:	  	[•]

 Number of Warrant Shares for which the Warrantholder may subscribe: [•]. 

This is to certify that the Warrantholder named above is the registered holder of the right to subscribe in cash for Warrant Shares at the subscription price
set out above subject to the Articles and otherwise on the terms and conditions set out in the Warrant Instrument (a copy of which is available for inspection at the registered office of the Company). 

 

			
	EXECUTED as a deed, but not delivered until)	 	
	 the date specified on this certificate,
by            )
	 	
	 MEREO BIOPHARMA GROUP PLC         )
	 	
	 by Denise Scots-Knight a director in the
             )
	 	
	 presence of a witness:
	 	/s/ Denise Scots-Knight
		 	Director

  

					
	 Witness Signature:
  
	  		  	/s/ Gemma Avery
		  		  	  

	 Witness Name (block capitals):
  
	  		  	 Gemma Avery

		  		  	  

	 Witness Address:
  
	  		  	76 Warescot Road
		  		  	  

		  		  	CM15 9H3
		  		  	  

	Witness Occupation:	  		  	Personal Assistant
		  		  	  

 Schedule to the Warrant Certificate 

  
 12 

 Notice of Subscription 

 

	To:	 The Directors 

MEREO BIOPHARMA GROUP PLC (“Company”) 

This notice is issued pursuant to the warrant instrument issued by the Company
on                     2020 (“Warrant Instrument”). Words and expressions used in this notice which are defined in the Warrant
Instrument have the meanings given to them in the Warrant Instrument. 
 By this notice we exercise the Subscription Rights appertaining to [number]
of the Warrants evidenced by this certificate and confirm that we will procure payment in the sum of £[amount], being the aggregate Subscription Price payable for those Warrant Shares 

[We direct the Company to allot conditional only on the above the [number] of Ordinary Shares to be issued pursuant to this exercise in the following
numbers to the following proposed allottees, each of which is either a Warrantholder, a nominee or trustee of a Warrantholder, or a transferee of one of those persons approved in accordance with clause 8.1 of the Warrant Instrument.] 

 

							
	 Number/percentage
of shares
	  	 Name of proposed

allottee
	  	 Address of

proposed allottee
	  	 CREST Details

	1	  		  		  	 Participant ID: [•]
  

Member account ID: [•]
  

INSP Custodian Client
 Ref: [•]

 
 Custodian Name: [•]

				
	2	  		  		  	 Participant ID: [•]
  

Member account ID: [•]
  

INSP Custodian Client
 Ref: [•]

 
 Custodian Name: [•]

 We request that certificate(s) for such Ordinary Shares be sent by post at our risk to us at the first address shown above or
to the agent lodging this certificate as mentioned below. 
 OR 

  
 13 

 We hereby request that you register our Warrant Shares in uncertificated form to the CREST account detailed
[below][above]: 
  

			
	CREST Details	  	Participant ID
		
		  	Member Account ID
		
		  	INSP Custodian Client Ref:
		
		  	Custodian Name

 We agree that such shares are issued and accepted subject to the memorandum and articles of association of the Company. 

 

			
	Signature of Warrantholder:	  	 
		
	Full name:	  	 
		
	Address:	  	 

 Lodged by: (agent to whom certificate(s) should be sent) 

 

			
	Name of agent:	  	 
		
	Address:	  	 

  
 14 

 SCHEDULE 2 

Conditions 
  

	1	 An accurate Register will be kept and maintained at all times by the Company at its registered office and there
shall be entered in the Register: 

  

	1.1	 the names and addresses of the persons for the time being entitled to be registered as the holders of the
Warrants; 

  

	1.2	 the number of Warrants held for the time being by every registered holder; and 

 

	1.3	 the date on which the name of every registered holder is entered in the Register in respect of the Warrants in
its name. 

  

	2	 Any change in the name or address of any Warrantholder shall promptly be notified to the Company which shall
cause the Register to be altered accordingly. The Warrantholders or any of them and any person authorised by any Warrantholder shall be at liberty at all reasonable times during office hours to inspect the Register and to take copies of or extracts
from it or any part of it. 

  

	3	 The Company shall be entitled to treat each Warrantholder as the absolute owner of a Warrant and accordingly
shall not, except as ordered by a court of competent jurisdiction or as required by law, be bound to recognise any equitable or other claim to or interest in a Warrant on the part of any other person, whether or not it shall have express or other
notice of such a claim. 

  

	4	 Each Warrantholder will be recognised by the Company as entitled to the Warrants free from any equity, set-off or cross-claim on the part of the Company against the original or any intermediate holder of the Warrants. 

  

	5	 Each transfer of a Warrant shall be made by an instrument of transfer in the usual or common form or in any
other form which may be approved for the time being by the Directors. 

  

	6	 The instrument of transfer of a Warrant shall be executed by or on behalf of the transferor but need not be
executed by or on behalf of the transferee. The transferor shall be deemed to remain the holder of the Warrant until the name of the transferee is entered in the Register in respect of the Warrant being transferred. 

 

	7	 The Directors may decline to recognise any instrument of transfer of a Warrant unless the instrument is
deposited at the registered office of the Company accompanied by the Warrant Certificate for the Warrant to which it relates, and such other evidence as the Directors may reasonably require to show the right of the transferor to make the transfer.
The Directors may waive production of any Warrant Certificate upon production to them of satisfactory evidence of the loss or destruction of the Warrant Certificate together with such indemnity as they may require. 

 

	8	 No fee shall be charged for any registration of a transfer of a Warrant or for the registration of any other
documents which in the opinion of the Directors require registration. 

  
 15 

	9	 The registration of a transfer shall be conclusive evidence of the approval by the Directors of such a
transfer. 

  

	10	 Each Warrantholder shall register with the Company an address to which notices can be sent. If any
Warrantholder fails to register an address with the Company, notice may be given to that Warrantholder by sending it by any of the methods referred to in paragraph 11 of this Schedule 2 to that Warrantholder’s last known place of business or
residence or, if none, by exhibiting it for three days at the registered office for the time being of the Company. 

  

	11	 Notices and other communications to Warrantholders may be given by personal delivery, prepaid letter by first
class post or, subject to clause 1.3 of this instrument, fax or email. In proving service of any notice or other communication sent by post, it shall be sufficient to prove that the envelope containing the notice or other communication was properly
addressed and stamped and was deposited in a post box or at the post office. 

  

	12	 A notice or other communication given pursuant to the provisions of paragraph 11 of this Schedule 2 shall be
deemed to have been served: 

  

	12.1	 at the time of delivery, if delivered personally to the registered address; 

 

	12.2	 on the second Business Day following its posting, if sent by prepaid letter by first class post to an address
in the United Kingdom; and 

  

	12.3	 at 09:00 hours on the Business Day following the despatch of the fax, if sent by fax. 

 

	13	 All notices and other communications with respect to Warrants standing in the names of joint registered holders
shall be given to whichever of such persons is named first in the Register and such notice so given shall be sufficient notice to all the registered holders of such Warrants. 

 

	14	 Any person who, whether by operation of law, transfer or other means whatsoever, shall become entitled to any
Warrant, shall be bound by every notice in respect of such Warrant which, prior to its name and address being entered on the Register, shall have been duly given to the person from which it derives its title to such Warrant. 

 

	15	 When a given number of days’ notice or notice extending over any other period is required to be given, the
day of service shall be included but the day upon which such notice will expire shall not be included in such number of days or other period. The signature to any notice to be given by the Company may be written or printed. 

  
 16 

 SIGNATURE PAGE 

 

			
	EXECUTED as a deed, but not delivered until)	  	
	the date specified on this instrument, by           )	  	
	                                      
                                     )	  	
	MEREO BIOPHARMA GROUP PLC         )	  	
		  	
	 by Denise Scots-Knight a director in the

presence of a witness:
	  	
		  	 /s/ Denise Scots-Knight

		  	Director
		
		  	
		
	Witness Signature:	  	/s/ Gemma Avery
		
		  	 
		
	Witness Name (block capitals):	  	Gemma Avery
		
		  	 
		
	Witness Address:	  	76 Warescot Road
		
		  	CM15 9H3
		
		  	 
		
	Witness Occupation:	  	Personal Assistant
		
		  	 

  
 17EX-4.4

 Exhibit 4.4 

EXECUTION VERSION 
  

					
		 	DATED 10 February 2020	 	

 (1) THE DEBTORS 

as Debtors 
 (2) KREOS
CAPITAL V (UK) LIMITED 
 as Senior Agent 

(3) KREOS CAPITAL V (UK) LIMITED 

as Security Agent 
 (4)
KREOS CAPITAL V (UK) LIMITED and SILICON 
 VALLEY BANK 

as Senior Lenders 
 (5)
NOVARTIS PHARMA AG 
 as Subordinated Creditor 
  

 
 SUBORDINATION
DEED 
  
  

 CONTENTS 
  

							
	1	  	DEFINITIONS AND INTERPRETATIONS	  	 	1	 
			
	2	  	PURPOSE OF THIS DEED	  	 	3	 
			
	3	  	RANKING OF DEBT	  	 	3	 
			
	4	  	UNDERTAKINGS OF DEBTORS	  	 	3	 
			
	5	  	UNDERTAKINGS OF SUBORDINATED CREDITOR	  	 	4	 
			
	6	  	CONTRAVENTION	  	 	5	 
			
	7	  	RESTRUCTURING	  	 	5	 
			
	8	  	WAIVER OF DEFENCES	  	 	5	 
			
	9	  	ASSIGNMENT AND TRANSFER	  	 	5	 
			
	10	  	MISCELLANEOUS	  	 	6	 
			
	11	  	NOTICES	  	 	7	 
			
	12	  	GOVERNING LAW	  	 	8	 
		
	SCHEDULE 1 THE DEBTORS	  	 	9	 

 THIS SUBORDINATION DEED is made this          day of
                 2020 
 BETWEEN: 

 

	(1)	 THE PERSONS NAMED IN SCHEDULE 1, as debtors under the Senior Loan Documents and/or the Junior Finance
Documents (the “Debtors”, each a “Debtor”); 

  

	(2)	 KREOS CAPITAL V (UK) LIMITED a limited liability company incorporated under the laws of
England & Wales with company number 09728300 and its registered office at 25 Old Burlington Street London W1S 3AN, as agent under the Senior Loan Agreement (the “Senior Agent”); 

 

	(3)	 KREOS CAPITAL V (UK) LIMITED a limited liability company incorporated under the laws of
England & Wales with company number 09728300 and its registered office at 25 Old Burlington Street London W1S 3AN, as security agent under the Senior Loan Agreement (the “Security Agent”); 

 

	(4)	 SILICON VALLEY BANK a California corporation with its principal place of business at 3003 Tasman Drive,
Santa Clara, California 95054 US and registered in England & Wales under numbers BR014561 and FC029579 with its UK branch at Alphabeta 14-18 Finsbury Square, London, EC2A 1BR and KREOS CAPITAL V
(UK) LIMITED a limited liability company incorporated under the laws of England & Wales with company number 09728300 and its registered office at 25 Old Burlington Street London W1S 3AN, as lenders under the Senior Loan Agreement (the
“Senior Lenders”, each a “Senior Lender”); and 

  

	(5)	 NOVARTIS PHARMA AG a company incorporated and registered in Switzerland whose registered office is
Postfach, 4002 Basel Switzerland, as creditor under the Junior Finance Documents (the “Subordinated Creditor”). 

 NOW
THIS DEED WITNESSES as follows: 
  

	1	 DEFINITIONS AND INTERPRETATIONS 

 

	1.1	 In this Deed, unless the context otherwise requires, the following expressions have the following meanings:

 “Company” means Mereo BioPharma Group Plc, a public limited company established in England &
Wales under company number 09481161 with registered office at 4th Floor, 1 Cavendish Place, London W1G 0QF; 
 “Senior Debt”
means all or any monies and liabilities which shall from time to time (and whether on or at any time after demand) be due, owing or incurred in whatsoever manner to the Senior Lenders by the Debtors under or in connection with the Senior Loan
Agreement; 
 “Senior Loan Agreement” means the £20,455,000 loan agreement dated on or around the date of this Deed
between (1) the Debtors, (2) the Senior Lenders, (3) the Senior Agent and (4) the Security Agent; 

  
 1 

 “Security” means a mortgage, charge, pledge, lien or other security
interest securing any obligation of any person or any other agreement or arrangement having a similar effect; 
 “Subordinated
Debt” means any sums owned by the Company to the Subordinated Creditor pursuant to the Subordinated Convertible Notes; and 

“Subordinated Convertible Notes” means the convertible loan note instrument dated on or around the date hereof between the
Company and the Subordinated Creditor, as amended, varied and restated from time to time. 
  

	1.2	 In this Deed, unless a contrary intention appears: 

 

	 	1.2.1	 a reference to statutes, statutory provisions and other legislation shall include all amendments,
substitutions, modifications and re-enactments for the time being in force and shall include any orders, regulations, instruments or other subordinate legislation made under the relevant legislation;

  

	 	1.2.2	 a reference to “including” shall not be construed as limiting the generality of the words preceding
it; 

  

	 	1.2.3	 a reference to this Deed shall include the Schedule; 

 

	 	1.2.4	 any term or phrase defined in the Companies Act 2006 (as amended from time to time) shall bear the same meaning
in this Deed; 

  

	 	1.2.5	 words importing the singular shall include the plural and vice versa and words denoting any gender shall
include all genders; 

  

	 	1.2.6	 a reference to this Deed and to any provisions of it or to any other document referred to in this Deed shall be
construed as references to it in force for the time being as amended, varied, supplemented, restated, substituted or novated from time to time; 

  

	 	1.2.7	 a reference to any person is to be construed to include references to a corporation, firm, company,
partnership, joint venture, unincorporated body of persons, individual or any state or agency of a state, whether or not a separate legal entity; 

  

	 	1.2.8	 a reference to any person is to be construed to include that person’s assignees or transferees or
successors in title, whether direct or indirect; 

  

	 	1.2.9	 clause headings are for ease of reference only and are not to affect the interpretation of this Deed; and

  

	 	1.2.10	 unless otherwise defined herein words and expressions defined in the Senior Loan Agreement shall bear the same
meanings when used in this Deed. 

  
 2 

	2	 PURPOSE OF THIS DEED 

 

	2.1	 The Senior Lenders have provided the Senior Debt, and the Subordinated Creditor has provided the Subordinated
Debt, to the Company. 

  

	2.2	 The parties have agreed that the priority of their respective debts shall be as set out in this Deed.

  

	2.3	 Each Debtor has agreed to enter this Deed to acknowledge its terms and to give certain covenants to the Senior
Lenders, the Senior Agent, the Security Agent, and the Subordinated Creditor. 

  

	3	 RANKING OF DEBT 

Each Senior Lender and the Subordinated Creditor hereby agree, and each Debtor acknowledges, that the Senior Debt shall rank for all purposes
and at all times ahead of the Subordinated Debt. 
  

	4	 UNDERTAKINGS OF DEBTORS 

 

	4.1	 For such time as any amount or claim is outstanding in respect of, or relating to, the Senior Debt, no Debtor
shall (and the Subordinated Creditor undertakes not to require the Company to): 

  

	 	4.1.1	 create or permit to subsist any Security over any of its assets for or in respect of all or any part of the
Subordinated Debt; 

  

	 	4.1.2	 pay, repay, repay in advance, prepay, redeem, purchase or otherwise discharge or release any of the
Subordinated Debt other than any conversion of all or any part of the Subordinated Debt into shares in the Company or with the prior written consent of the Senior Agent; or 

 

	 	4.1.3	 (save to the extent that the Security Agent (acting reasonably) is satisfied that the same shall not result in
any impairment in the subordination contemplated by this Deed, and subject to Clause 4.2 below) and subject to the prior written consent of the Senior Lenders (such consent not to be unreasonably withheld), amend, vary, waive or release any
provision of the Subordinated Convertible Notes; and/or 

  

	 	4.1.4	 take or omit to take any action whereby the ranking and/or subordination arrangements provided for herein in
relation to the Subordinated Debt or any part thereof are reasonably likely to be impaired or adversely affected. 

  

	4.2	 If an amendment, variation, waiver or release of the Subordinated Convertible Notes is proposed, the Company
shall: 

  

	 	4.2.1	 inform the Senior Agent and the Security Agent of such proposed amendment, variation, waiver or release (the
“Variation”); 

  

	 	4.2.2	 no later than 10 Business Days (or such shorter time as may be agreed by the Senior Agent) prior to such
proposed amendment, variation, waiver or release, provide the Senior Agent and the Security Agent with copies of the Subordinated Convertible Notes showing the proposed amendments, variations, waivers and/or releases (as the case may be);

  
 3 

	 	4.2.3	 seek the prior written consent of the Senior Lenders to the Variation (such consent not to be unreasonably
withheld); and 

  

	 	4.2.4	 promptly after any such amendment, variation, waiver or release has taken place, provide the Senior Agent and
the Security Agent with copies of the Subordinated Convertible Notes as so amended, varied, waived or released. 

  

	5	 UNDERTAKINGS OF SUBORDINATED CREDITOR 

For such time as any amount or claim is outstanding in respect of, or relating to, the Senior Debt, the Subordinated Creditor will not: 

 

	5.1	 demand or accept payment, repayment, repayment in advance, prepayment or any distribution in respect of, or on
account of, any Subordinated Debt in cash or in kind or accelerate, declare payable on demand or enforce by execution or otherwise any principal, interest, cost or other sums in respect of the Subordinated Debt other than any conversion of all or
any part of the Subordinated Debt into shares in the Company; 

  

	5.2	 exercise any right of set-off, combination of accounts or lien or
exercise or accept any transfer of rights, property or assets from the Company (or any other source) in satisfaction of the Subordinated Debt (other than any conversion of all or any part of the Subordinated Debt into shares in the Company);

  

	5.3	 claim or rank as a creditor in the insolvency, winding-up, bankruptcy
or liquidation of the Company, other than subject to the terms of this Deed; 

  

	5.4	 take, receive or permit to subsist any Security or any guarantee (or other assurance against financial loss)
for, or in respect of, any Subordinated Debt; 

  

	5.5	 (save to the extent permitted under Clause 4 (Undertakings of Debtors) amend, vary, waive or release any
provision of the Subordinated Convertible Notes in any way which will have a material adverse effect upon the interests of the Senior Lenders under the Senior Loan Agreement; 

 

	5.6	 provide additional loan facilities, however described, to the Company, without the prior written consent of the
Senior Lenders (such consent not to be unreasonably withheld); 

  

	5.7	 sell, transfer or otherwise dispose of any of the Subordinated Debt (other than in accordance with Clause 9.4);
and/or 

  

	5.8	 take or omit to take any action whereby the ranking and/or subordination arrangements provided for herein in
relation to the Subordinated Debt or any part thereof may be impaired or adversely effected. 

  
 4 

	6	 CONTRAVENTION 

 

	6.1	 If at any time while any amount or claim is outstanding in respect of, or relating to, the Senior Debt, the
Subordinated Creditor receives or recovers a payment or distribution of any kind whatsoever in respect of or on account of any Subordinated Debt, the recipient or beneficiary of such payment, distribution,
set-off or combination will promptly pay all such amounts or distributions to the Security Agent and, pending such payment, will hold these amounts and distributions on trust (or otherwise separated from its
assets) and on behalf of the Security Agent. 

  

	6.2	 The Subordinated Debt will, as between the Company and the Subordinated Creditor, be deemed not to have been
reduced or discharged to the extent of any payment or distribution to the Security Agent under Clause 6.1. 

  

	7	 RESTRUCTURING 

 

	7.1	 The Subordinated Creditor agrees that the Senior Debt may be refinanced and/or that its terms may be amended
and that any amounts borrowed or obligations incurred by the Company and the Debtors in refinancing the Senior Debt will (whether or not the amount of such Senior Debt is greater than the amount made available at the date of this Deed) be Senior
Debt within the meaning of this Deed and will rank in priority to the Subordinated Debt on substantially the terms set out in this Deed. Without limit to the generality of the foregoing, all amounts made available by the Senior Lenders to the
Company from time to time by way of working capital (howsoever described) will be Senior Debt within the meaning of this Deed, whether made available in terms of the Senior Loan Agreement or otherwise. 

 

	7.2	 The Subordinated Creditor agrees that the Senior Lenders may, at their discretion, make further advances to the
Company and each such advance will be deemed to constitute Senior Debt for the purposes of this Deed. 

  

	8	 WAIVER OF DEFENCES 

 

	8.1	 The subordination effected or intended to be effected by this Deed and the obligations of the Subordinated
Creditor under it shall not be affected by any act, omission or circumstances which but for this provision might operate to release the Subordinated Creditor from their obligations or affect such obligations or such subordination.

  

	8.2	 This Deed shall apply in respect of the Senior Debt irrespective of any intermediate payment of any of the
Senior Debt and shall apply to the ultimate balance of the Senior Debt. 

  

	9	 ASSIGNMENT AND TRANSFER 

 

	9.1	 This Deed shall enure to and be binding on the permitted successors and assignees of the parties hereto.

  

	9.2	 No Debtor may assign or transfer all or any of its rights, obligations or benefits under this Deed.

  
 5 

	9.3	 Any Senior Lender may assign or otherwise transfer the whole or any part of the benefit of this Deed to any
person to whom all or a corresponding part of its rights and benefits and, where applicable, obligations under the Senior Loan Agreement are assigned or transferred in accordance with the provisions of them. 

 

	9.4	 The Subordinated Creditor hereby undertakes to the Senior Lenders that it shall not sell or transfer all or any
part of the Subordinated Debt to any person other than to the same persons (and in the same manner and subject to the same restrictions) as such Subordinated Creditor would be entitled to transfer the Subordinated Debt (as applicable) held by such
Subordinated Creditor under the Subordinated Convertible Notes and provided always that such assignee or transferee is first required to execute and deliver to the Senior Agent a deed of accession (in a form satisfactory to the Senior Lenders) in
which the assignee or transferee agrees to be bound by the terms of this deed. 

  

	10	 MISCELLANEOUS 

 

	10.1	 Illegality: If at any time any provision of this Deed is or becomes illegal, invalid or unenforceable in
any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Deed hereof nor the legality, validity or enforceability of such provisions under the law of any other jurisdiction
shall in any way be affected or impaired. 

  

	10.2	 Waiver: No failure to exercise, nor delay in exercising, any right or remedy under this Deed by a Senior
Lender will operate as a waiver of such rights and remedies, nor will any single or partial exercise of any other right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in
this Deed are cumulative and are not exclusive of any rights or remedies provided by law. 

  

	10.3	 Information: Subject to the terms of any confidentiality agreement or provisions that may be in force
from time to time between either any of the Debtors and the Subordinated Creditor, or any of the Debtors and the Senior Lenders (and/or the Senior Agent and Security Agent), while any amount or claim is outstanding in respect of, or relating to, the
Senior Debt, any Senior Lender and the Subordinated Creditor may disclose to each other information concerning the Debtors and their respective affairs in such manner and to such extent as the Senior Lender and the Subordinated Creditor may wish and
each Debtor consents to such disclosure (without prejudice to any foregoing confidentiality agreement or provision). 

  

	10.4	 Third party rights: A person who is not a party to this Deed shall have no right under the Contracts
(Rights of Third Parties) Act 1999 to enforce any term of this Deed. This clause does not affect any right or remedy of any person which exists or is available otherwise than pursuant to that Act. 

 

	10.5	 Conflict: If there is any conflict between the terms of this Deed and the Subordinated Convertible
Notes, this Deed shall prevail. 

  
 6 

	10.6	 Amendment: This Deed shall not be varied or amended in any way except in writing signed by each party.

  

	10.7	 Counterparts: This Deed may be executed in any number of counterparts and all the counterparts when
executed and taken together shall constitute one and the same instrument. 

  

	10.8	 Agreement: This Deed shall take effect as a deed notwithstanding that it may not have been
executed as a deed by one or more of the parties. 

  

	11	 NOTICES 

  

	11.1	 Any communication to be made under or in connection with this Deed shall be made in writing and, unless
otherwise stated, may be made by fax or letter. 

  

	11.2	 The address and fax number (and the department or officer, if any, for whose attention the communication is to
be made) of each party for any communication or document to be made or delivered under or in connection with this Deed is that identified with its name below or any substitute address, fax number or department or officer as the party may notify to
the other parties by not less than five (5) Business Days’ notice. In the case of the Debtors and the Subordinated Creditor, the address of its registered office or of any place where it carries on business or of any agent for the service
of process under this Deed shall also be addresses of the Debtors or the Subordinated Creditor for the purpose of this Clause 11 (Notices). 

  

	11.3	 Any communication made or document made or delivered by one person to another under or in connection with this
Deed will only be effective: 

  

	 	11.3.1	 if by way of fax, upon transmission; or 

 

	 	11.3.2	 if by way of letter sent in the mail, first class, registered or certified mail return receipt requested, with
proper postage prepaid, upon the earlier of actual receipt and five (5) Business Days after deposit in the mail; 

  

	 	11.3.3	 if by way of letter sent with a reputable overnight courier with all charges prepaid, one (1) Business Day
after deposit with the courier; 

  

	 	11.3.4	 if by way of letter hand-delivered by messenger, when delivered, 

and, if a particular department or officer is specified as part of the address details set out below, if addressed to that department or
officer. 
  

	11.4	 Any communication or document to be made or delivered to any Senior Lender will be effective only when actually
received by the Senior Lender and then only if it is expressly marked for the attention of the department or specified as part of the address details set out below (or any substitute department or officer as the Senior Lender shall specify for this
purpose). 

  
 7 

	12	 GOVERNING LAW 

 

	12.1	 This Deed and any dispute or claim arising out of or in connection with it or its subject matter or formation
(including non-contractual disputes or claims) shall be governed by, and construed in accordance with, the law of England & Wales. 

 

	12.2	 The parties irrevocably agree that the courts of England & Wales shall have exclusive jurisdiction to
settle any dispute or claim that arises out of or in connection with this Deed or its subject matter or formation (including non-contractual disputes or claims). 

IN WITNESS WHEREOF this Deed has been duly executed by the parties as a deed on the day and year first written above. 

  
 8 

 SCHEDULE 1 

THE DEBTORS 
  

	1	 MEREO BIOPHARMA GROUP PLC, a public limited company established in England & Wales under
company number 09481161 

  

	2	 MEREO BIOPHARMA 1 LIMITED, a private limited company established in England & Wales under
company number 09646998 

  

	3	 MEREO BIOPHARMA 2 LIMITED, a private limited company established in England & Wales under
company number 09647035 

  

	4	 MEREO BIOPHARMA 3 LIMITED, a private limited company established in England & Wales under
company number 09647034 

  

	5	 MEREO BIOPHARMA 4 LIMITED, a private limited company established in England & Wales under
company number 11029583 

  

	6	 MEREO BIOPHARMA IRELAND LIMITED, a private limited company established in the Republic of Ireland under
company number 627891 

  

	7	 ONCOMED PHARMACEUTICALS, INC., a Delaware corporation with file number 3817658, whose registered office
is at 251 Little Falls Drive, City of Wilmington, County of New Castle, Delaware 19808 

  

	8	 MEREO US HOLDINGS INC., a Delaware corporation with file number 7176466, whose registered office is at
251 Little Falls Drive, City of Wilmington, County of New Castle, Delaware 19808 

  

	9	 NAVI SUBSIDIARY, INC. a Delaware corporation with file number 7374678, whose registered office is at
1209 Orange Street, City of Wilmington, County of New Castle, Delaware 19801 

  
 9 

 EXECUTION PAGE 

THE DEBTORS 
  

							
	EXECUTED as a DEED by	  	 	  )	 	  	
			
	MEREO BIOPHARMA GROUP PLC	  	 	  )	 	  	
			
	acting by Denise Scots-Knight (director)	  	 	a)  	 	  	
	director in the presence of a witness	  				  	/s/ Denise Scots-Knight
		  				  	  
 Director

			
		  				  	 /s/ Jessica Doughty

Witness

	Witness Name:	  				  	
		  				  	 Jessica Doughty

	Witness Address:	  				  	
		  				  	 14 Sheraton Mews

		  				  	  
 WD18 7PE

	Witness Occupation:	  				  	  
 Executive Assistant

	 Notice details
  

Address:        Mereo BioPharma Group plc

                      4th Floor, 1 Cavendish
Place, London W1G 0QF
 Email:           legal@mereobiopharma.com

Attention:     General Counsel
  

	EXECUTED as a DEED by	  	 	  )	 	  	
			
	MEREO BIOPHARMA 1 LIMITED	  	 	  )	 	  	
			
	acting by Denise Scots-Knight (director)	  	 	a) 	 	  	
	director in the presence of a witness	  				  	/s/ Denise Scots-Knight
		  				  	  
 Director

			
		  				  	 /s/ Jessica Doughty

Witness

	Witness Name:	  				  	
		  				  	 Jessica Doughty

	Witness Address:	  				  	
		  				  	 14 Sheraton Mews

		  				  	  
 WD18 7PE

	Witness Occupation:	  				  	  
 Executive Assistant

	 Notice details
  

Address:        Mereo BioPharma 1 Limited

                      4th Floor, 1 Cavendish
Place, London W1G 0QF
 Email:           legal@mereobiopharma.com

Attention:     General Counsel

  
 10 

					
	EXECUTED as a DEED by	  	  )	  	
	MEREO BIOPHARMA 2 LIMITED	  	  )	  	
	acting by Denise Scots-Knight (director)	  	a)	  	
	director in the presence of a witness	  		  	/s/ Denise Scots-Knight
		  		  	  
 Director

		  		  	  
 /s/ Jessica Doughty

Witness

	Witness Name:	  		  	
		  		  	 Jessica Doughty

	Witness Address:	  		  	
		  		  	 14 Sheraton Mews

		  		  	  
 WD18 7PE

	Witness Occupation:	  		  	
		  		  	 Executive Assistant

	 Notice details
  

Address:        Mereo BioPharma 2 Limited

                      4th Floor, 1 Cavendish
Place, London W1G 0QF
 Email:           legal@mereobiopharma.com

Attention:      General Counsel
  

	EXECUTED as a DEED by	  	  )	  	
	MEREO BIOPHARMA 3 LIMITED	  	  )	  	
	acting by Denise Scots-Knight (director)	  	a)	  	
	director in the presence of a witness	  		  	/s/ Denise Scots-Knight
		  		  	  
 Director

		  		  	  
 /s/ Jessica Doughty

Witness

	Witness Name:	  		  	
		  		  	 Jessica Doughty

	Witness Address:	  		  	
		  		  	 14 Sheraton Mews

		  		  	  
 WD18 7PE

	Witness Occupation:	  		  	
		  		  	 Executive Assistant

	 Notice details
  

Address:        Mereo BioPharma 3 Limited

                      4th Floor, 1 Cavendish
Place, London W1G 0QF
 Email:           legal@mereobiopharma.com

Attention:      General Counsel

  
 11 

					
	EXECUTED as a DEED by	 	  )	  	
			
	MEREO BIOPHARMA 4 LIMITED	 	  )	  	
			
	acting by Denise Scots-Knight (director)	 	a)	  	
	director in the presence of a witness	 		  	
		 		  	 /s/ Denise Scots-Knight

		 		  	Director
			
		 		  	 /s/ Jessica Doughty

		 		  	Witness
			
	Witness Name:	 		  	 Jessica Doughty

			
	Witness Address:	 		  	 14 Sheraton Mews

			
		 		  	 WD18 7PE

			
	Witness Occupation:	 		  	 Executive Assistant

			
	Notice details	 		  	
	
	 Address:   Mereo BioPharma 4 Limited

  4th Floor, 1 Cavendish Place, London W1G 0QF

			
	Email:       legal@mereobiopharma.com	 		  	
			
	Attention: General Counsel	 		  	
			
	SIGNED for and on behalf of	 	  )	  	
			
	MEREO BIOPHARMA IRELAND LIMITED	 	  )	  	
			
	by its lawfully appointed attorney CHARLES
SERMON in the presence of:	 	  )	  	
			
		 		  	 /s/ Charles Sermon

			
		 		  	Charles Sermon
			
		 		  	 /s/ Gemma Avery

			
		 		  	Witness
			
	Witness Name:	 		  	 Gemma Avery

			
	Witness Address:	 		  	 76 Warescot Road

			
		 		  	 CM15 9H3

			
	Witness Occupation:	 		  	 Personal Assistant

	
	 Address:   Mereo Biopharma Ireland Limited

  25-28 North Wall Quay, Dublin 1 D01 H104

			
	Email:       legal@mereobiopharma.com	 		  	
			
	Attention: General Counsel	 		  	

  
 12 

	
	EXECUTED as a DEED by
	
	ONCOMED PHARMACEUTICALS, INC.
	
	acting by /s/ Denise Scots-Knight                            
	
	Witness Name: /s/ Jessica Doughty
	
	Witness Address: 14 Sheraton Mews, WD18 7PE
	
	Witness Occupation: Executive Assistant
	
	Notice details
	
	 Address:   Oncomed Pharmaceuticals Inc

  251 Little Falls Drive, City of Wilmington, County of New Castle, Delaware 19808

	
	Email:       legal@mereobiopharma.com
	
	Attention: General Counsel
	
	EXECUTED as a DEED by
	
	MEREO US HOLDINGS, INC.
	
	acting by /s/ Denise Scots-Knight                            
	
	Witness Name: /s/ Jessica Doughty
	
	Witness Address: 14 Sheraton Mews, WD18 7PE
	
	Witness Occupation: Executive Assistant
	
	Notice details
	
	 Address:   Mereo US Holdings Inc

  251 Little Falls Drive, City of Wilmington, County of New Castle, Delaware 19808

	
	Email:       legal@mereobiopharma.com
	
	Attention: General Counsel

  
 13 

	
	EXECUTED as a DEED by
	
	NAVI SUBSIDIARY, INC.
	
	acting by /s/ Denise Scots-Knight                            
	
	Witness Name: Gemma Avery
	
	Witness Address: 76 Warescot Road, CM15 9H3
	
	Witness Occupation: Personal Assistant
	
	Notice details
	
	Address:   Navi Subsidiary Inc
	
	1209 Orange Street, City of Wilmington, County of New Castle, Delaware 19801
	
	Email:       legal@mereobiopharma.com
	
	Attention: General Counsel

  
 14 

 THE SENIOR AGENT 
  

					
	EXECUTED as a DEED by	 	  )	  	
			
	KREOS CAPITAL V (UK) LIMITED	 	  )	  	
			
	acting by Luca Colciago (director)	 	a)	  	
	director in the presence of a witness	 	  )	  	
		 		  	 /s/ Luca Colciago

		 		  	Director
			
		 		  	 /s/ Lauren Mahoney

		 		  	Witness
			
	Name:	 		  	 Lauren Mahoney

			
	Address:	 		  	 25 Old Burlington St.

			
		 		  	 W1S 3AN, UK

			
	Occupation:	 		  	 Portfolio Administrator

			
	Notice details	 		  	
	
	Address: 25-28 Old Burlington Street, London W1S 3AN
			
	Fax: +44 (0)207 409 1034	 		  	
			
	Attention: Jack Diamond	 		  	
			
	THE SECURITY AGENT	 		  	
			
	EXECUTED as a DEED by	 	  )	  	
			
	KREOS CAPITAL V (UK) LIMITED	 	  )	  	
			
	acting by Luca Colciago (director)	 	a)	  	
			
	director in the presence of a witness	 	  )	  	
			
		 		  	 /s/ Luca Colciago

			
		 		  	Director
			
		 		  	 /s/ Lauren Mahoney

			
		 		  	Witness
			
	Name:	 		  	 Lauren Mahoney

			
	Address:	 		  	 25 Old Burlington St.

			
		 		  	 W1S 3AN, UK

			
	Occupation:	 		  	 Portfolio Administrator

			
	Notice details	 		  	
	
	Address: 25-28 Old Burlington Street, London W1S 3AN
			
	Fax: +44 (0)207 409 1034	 		  	
			
	Attention: Jack Diamond	 		  	

  
 15 

 THE SENIOR LENDERS 
  

					
	EXECUTED as a DEED by	  	 )
	  	
	 KREOS CAPITAL V (UK) LIMITED
	  	 )
	  	
	 acting by Luca Colciago (director)
	  	 a)
	  	
	director in the presence of a witness	  	 )
	  	/s/ Luca Colciago
		  		  	  
 Director

		  		  	
		  		  	/s/ Lauren Mahoney
		  		  	  
 Witness

		  		  	
	Name:	  		  	 Lauren Mahoney

		  		  	
	 Address:
	  		  	 25 Old Burlington St.

			
		  		  	 W1S 3AN, UK

			
	 Occupation:
	  		  	 Portfolio Administrator

	  
 Notice details

 

Address:            25-28 Old Burlington Street, London W1S
3AN
 Fax:                  +44 (0)207 409 1034

Attention:          Jack Diamond

  

					
	 EXECUTED as a DEED by
 SILICON VALLEY
BANK
 a California corporation by Ian Murchie (authorised
signatory), being a person who, in accordance with the laws of that territory, is acting under the authority of the corporation
	  	 )

)
 )

)
 )

)
	  	/s/ Ian Murchie
		  		  	  
 Authorised signatory

 
 /s/ Ellie H Roberts

		  		  	  
 Witness

	 Name:
	  		  	
		  		  	 Ellie H Roberts

	 Address:
	  		  	
		  		  	 Alphabeta, 14-18 Finsbury

			
		  		  	 Square, London, EC2A 1BR

	 Occupation:
	  		  	
		  		  	 Associate

 Notice details 

Address:             Silicon Valley Bank, Alphabeta, 14-18 Finsbury Square , London EC2A 1BR 

Fax:                    +44(0)207 600 9556 

Attention:           Jim Watts 

  
 16 

 THE SUBORDINATED CREDITOR 

 

					
	 EXECUTED as a DEED by
	  	)	  	
	 NOVARTIS PHARMA AG
	  	)	  	
	a company incorporated in Switzerland	  	)	  	
	acting by Marc Ceulemans	  	)	  	
	(authorised signatory), being a person who, in accordance with the laws of that territory, is acting under the authority of the corporation	  	)	  	
	  	)	  	
		  		  	/s/ Marc Ceulemans, Head Strategic Venture, Capital Funds and Pharma Entities
		  		  	  
 Authorised
signatory

			
		  		  	/s/ Matt Owens
		  		  	  
 Witness

	 Name:
	  		  	
		  		  	 Matt Owens, Authorized Signatory

	 Address:
	  		  	
		  		  	  

		  		  	
		  		  	  

		  		  	
	 Occupation:
	  		  	
		  		  	  

	 Notice details

 
 Address:

Fax:
 Attention:

  
 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}]]