Merus Raises €72.8M in Series C Funding

Merus B.V., an Utrecht, the Netherlands-based clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics, raised up to € 72.8m ($80.5m) in Series C funding.

The first tranche of unidsclosed amount under the agreement was already consummated.

Backers included:
– new investors Sofinnova Ventures and Novo A/S as the co-leads, along with RA Capital Healthcare Fund, Rock Springs Capital, Tekla Capital Management and an unnamed U.S.-based life sciences-focused investor, and
– existing investors Novartis Venture Fund, Johnson & Johnson Innovation – JJDC, Inc., Pfizer Venture Investments, Bay City Capital, LSP Life Sciences Partners and Aglaia Oncology Fund.
As part of the transaction, Anand Mehra of Sofinnova Ventures and Jack Nielsen of Novo A/S joined Merus’ board of directors.

The company intends to use the funds to advance key clinical and preclinical programs and to broaden its pipeline of therapeutics.

Led by Ton Logtenberg, Ph.D., Chief Executive Officer, Merus is advancing a pipeline of therapeutics that recruit cells of the immune system to kill cancer cells. Its first lead bispecific antibody, MCLA-128, has commenced phase 1/2 clinical trials as a potential targeted therapy for solid tumors and its second lead bispecific antibody, MCLA-117 for the treatment of acute myeloid leukemia, is planned to commence clinical trials in the first quarter of 2016.



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