Merus N.V. (NASDAQ: MRUS) Enters License Agreement with Partner Therapeutics, Inc.

On November 27, 2024, Merus N.V., a Dutch public company, disclosed in an 8-K filing with the Securities and Exchange Commission that it has entered into a significant License Agreement with Partner Therapeutics, Inc., a corporation based in Delaware. The agreement entails pivotal licensing terms concerning the exploitation and commercialization of zenocutuzumab for the treatment of NRG1+ cancer.

Under the agreement, Merus has granted Partner an exclusive, sublicenseable, royalty-bearing license for zenocutuzumab’s use in treating NRG1+ cancer within the United States. Additionally, Partner can develop, manufacture, and commercialize companion diagnostic tests related to zenocutuzumab for this indication. Moreover, a limited, non-exclusive, non-sublicenseable, royalty-bearing license has been granted for the commercialization of zenocutuzumab outside the U.S., specifically for a named patient program until regulatory approval is sought by Merus in any country outside the U.S.

In return, Partner has committed to an upfront, non-refundable payment and has agreed to fund the development, manufacturing, and clinical trial expenditures for zenocutuzumab and associated companion diagnostic products. Merus stands eligible to receive up to $130.0 million in milestone payments tied to the commercial success of zenocutuzumab, along with tiered royalties based on the level of annual net sales.

The License Agreement also outlines provisions in the event of sales targets not being met by Partner three years post the U.S. launch of zenocutuzumab. In such a scenario, the entities will collaboratively devise strategies to boost sales. If the subsequent year fails to meet the specified targets, Merus retains the right to terminate the agreement with all rights reverting to the company.

The filing also included cautionary language regarding forward-looking statements in compliance with securities regulations. Management emphasized the uncertainties and risks associated with the implementation of the agreement, including the potential for regulatory delays and the company’s need for additional funding. The disclosure reiterated that actual results may vary from the predictions due to various factors detailed in Merus’ reports filed with the SEC.

While management reserves the right to update forward-looking statements in the future, they disclaimed any current obligation except as mandated by law. These declarations should not be solely relied upon as representing the company’s views beyond the date of the report.

In closing, Merus N.V. stated that the current report was duly authorized and signed by Sven (Bill) Ante Lundberg, the President, and Chief Executive Officer, on December 2, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Merus’s 8K filing here.

Merus Company Profile

Merus N.V., a clinical-stage immuno-oncology company, engages in the development of antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trials for the treatment of patients with metastatic breast cancer and castration-resistant prostate cancer, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1.