LONDON — The Danish biopharmaceutical company Genmab has announced its intention to acquire Merus, a biotech firm known for its innovative head and neck cancer treatment, in a transaction valued at approximately $8 billion. This acquisition involves a cash payment of $97 per share, representing a significant 41% premium over Merus’s closing stock price on the preceding Friday.
Merus has been making headlines with its experimental drug, petosemtamab, which, in conjunction with the checkpoint inhibitor Keytruda, demonstrated a preliminary survival advantage in a Phase 2 trial involving patients with metastatic head and neck cancer. The company is currently advancing into Phase 3 trials, which are critical for establishing the drug’s efficacy and potential market viability.
This acquisition underscores Genmab’s strategic focus on expanding its oncology portfolio and enhancing its competitive positioning in the rapidly evolving cancer therapeutics landscape. As the industry continues to prioritize innovative treatment options, Genmab’s investment in Merus may catalyze significant advancements in patient care for head and neck cancer.
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