News Article
Genmab broadens late-stage portfolio with $8bn Merus acquisition
Copenhagen-based antibody therapeutics company Genmab has agreed to acquire Merus in a deal valuing the Dutch–U.S. oncology company at approximately $8bn.
The move brings late-stage bispecific antibody petosemtamab into Genmab’s pipeline. Petosemtamab is in two Phase 3 trials for head and neck cancer, carries two FDA Breakthrough Therapy Designations, and could launch as early as 2027. According to Alcon’s management, the asset supports sustained growth well into the next decade.
Management guides to EBITDA accretion by end-2029 ; petosemtamab holds at least $1 bn annual sales potential by 2029 with multi-billion potential thereafter.
The deal adds to 2025’s rising biotech M&A wave, highlighting sustained big-company appetite for late-stage oncology assets amid looming patent cliffs.
Continued interest in bispecific antibodies reinforces the modality’s strategic value, and could prompt further take-outs of platform companies in the space.
Closing is expected in Q1 2026, pending customary approvals.
