Company News: Merus Secures €31 Million in Series B Round Extension
– Investment brings Series B to a total of €47.6 million
– Johnson & Johnson Development Corporation joins as new investor; receives board seat
Merus B.V., a biopharmaceutical company focusing on innovative human antibody therapeutics, today announced a €31 million (US$42 million) extension to its Series B financing round, bringing the total round to €47.6 million (US$65 million). Johnson & Johnson Development Corporation (JJDC) joined as a new investor along with existing investors Novartis Venture Fund, Pfizer Venture Investments, Bay City Capital, LSP (Life Sciences Partners), and Aglaia Oncology Fund. A representative of JJDC will join Merus’ Board of Directors. Merus will use the new funds to broaden its portfolio of pre-clinical programs for the treatment of cancer patients and to bring its lead programs into phase I clinical testing.
The investment of JJDC in Merus B.V. was announced at the launch of the Johnson & Johnson Innovation Centre in London today.
Earlier this year, Merus presented encouraging research and preclinical data of MCLA-117, a product candidate to treat acute myeloid leukemia, a disease with very poor long-term prognosis. MCLA-117 is based on Merus’ proprietary Biclonics™ ENGAGE platform and is currently in development.