4 February 2010

Merus closes €21.7M second round and agrees option with Novartis Option Fund

Science|Business

Funding | Licensing

Merus NV of Utrecht, the Netherlands, has closed a €21.7 million second financing round led by new investors the Novartis Option Fund, Pfizer Inc., Bay City Capital, and Life Sciences Partners. Merus’ seed investor Aglaia Oncology Fund followed on.

The money will be used to advance development of Merus’ antibody-based drugs for the treatment of cancer, inflammation and infectious diseases.

At the same time, the company granted the Novartis Option Fund the option to an exclusive license to one of Merus’ oncology programmes. The agreement includes upfront and potential milestones payments totalling over S200 million, plus royalties.

“We are very pleased by the high quality of the new investor syndicate,” said Ton Logtenberg,...

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