SCHEDULE 13G 0001867472 XXXXXXXX LIVE Ordinary Shares, par value GBP 0.003 per share 06/04/2025 0001719714 Mereo BioPharma Group plc 589492107 4th Floor, One Cavendish Place London X0 W1G 0QF Rule 13d-1(c) Northpond Ventures, LP b DE 0.00 35223695.00 0.00 35223695.00 35223695.00 4.4 PN Northpond Ventures GP, LLC b DE 0.00 35223695.00 0.00 35223695.00 35223695.00 4.4 OO Northpond Ventures II, LP b DE 0.00 16454455.00 0.00 16454455.00 16454455.00 2.1 PN Northpond Ventures II GP, LLC b DE 0.00 16454455.00 0.00 16454455.00 16454455.00 2.1 OO NPV Listed, LLC b DE 0.00 2842850.00 0.00 2842850.00 2842850.00 0.4 OO Northpond Ventures, LLC b DE 0.00 2842850.00 0.00 2842850.00 2842850.00 0.4 OO Michael P. Rubin b X1 0.00 54521000.00 0.00 54521000.00 54521000.00 6.9 IN Mereo BioPharma Group plc 4th Floor, One Cavendish Place, London, X0, W1G 0QF. The names of the persons filing this report (collectively, the "Reporting Persons") are: Northpond Ventures, LP ("Northpond Fund") Northpond Ventures GP, LLC ("Northpond GP LLC") Northpond Ventures II, LP ("Northpond Fund II") Northpond Ventures II GP, LLC ("Northpond GP II LLC") NPV Listed, LLC ("NPV Listed") Northpond Ventures, LLC ("Northpond Ventures") Michael P. Rubin ("Rubin") The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. The principal business office of each Reporting Person is: 7500 Old Georgetown Road, Suite 800 Bethesda, MD 20814 Northpond Fund Delaware Northpond GP LLC Delaware Northpond Fund II Delaware Northpond GP II LLC Delaware NPV Listed Delaware Northpond Ventures Delaware Rubin United States Y There is no CUSIP number assigned to the ordinary shares. CUSIP number 589492107 has been assigned to the American Depositary Shares ("ADSs") of the Issuer. Each ADS represents five ordinary shares. Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities consists of (i) ordinary shares in the form of 7,044,739 ADSs directly held by Northpond Fund; (ii) ordinary shares in the form of 3,290,891 ADSs directly held by Northpond Fund II; (iii) ordinary shares in the form of 568,570 ADSs directly held by NPV Listed. Northpond GP LLC is the general partner of Northpond Fund, Northpond GP II LLC is the general partner of Northpond Fund II and Northpond Ventures is the manager of NPV Listed. Rubin is the managing member of each of Northpond GP LLC, Northpond GP II LLC and Northpond Ventures and has voting and dispositive power over the securities held by each of Northpond Fund, Northpond Fund II and NPV Listed. Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the shares of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The percentage set forth in each row 11 is based upon upon 795,001,444 ordinary shares outstanding as of May 12, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 13, 2025. Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 Joint Filing Agreement Northpond Ventures, LP /s/ Patrick Smerkers 06/11/2025 Northpond Ventures GP, LLC /s/ Patrick Smerkers 06/11/2025 Northpond Ventures II, LP /s/ Patrick Smerkers 06/11/2025 Northpond Ventures II GP, LLC /s/ Patrick Smerkers 06/11/2025 NPV Listed, LLC /s/ Patrick Smerkers 06/11/2025 Northpond Ventures, LLC /s/ Patrick Smerkers 06/11/2025 Michael P. Rubin /s/ Michael P. Rubin 06/11/2025