Denmark-based Genmab has entered definitive agreement to acquire Netherlands' Merus for USD 8 billion at USD 97 per share representing 54% premium over current market capitalisation of USD 5.2 billion, with expected closing in Q1 2026. The transaction adds commercialised HER3/HER2 bispecific antibody (BsAb) zenocutuzumab for NRG1-fusion positive cancers and late-stage LGR5/EGFR candidate petosemtamab in Phase III head and neck squamous cell carcinoma (HNSCC) trials. Petosemtamab demonstrated 60% objective response rate (ORR) with five complete responses in combination with pembrolizumab in PD-L1 positive recurrent metastatic disease.

Merus' pipeline also includes EGFR/c-Met bispecific MCLA-129 showing 45.3% response rate in c-Met exon 14-mutated non-small cell lung cancer (NSCLC) through partnership with Betta Pharma, plus early-stage PD-1/CD3 and PD-1/TGFBR2 BsAbs. The acquisition strengthens Genmab's antibody leadership beyond proprietary DuoBody technology with complementary platforms including Biclonics library generating fully human biparatopic antibodies. Genmab gains commercial footprint in niche oncology indications alongside revenue from zenocutuzumab's 2024 US approval for NSCLC and pancreatic cancer.

According to PharmCube's NextBiopharm® database, this is Genmab's second ever M&A deal after it bought China's ProfoundBio for USD 1.8 billion last year. Click here to request a free trial for NextBiopharm®.