Merus

Van Lanschot Kempen (USA) Inc. acted as Lead Manager in the USD 460 million capital increase by Merus

Transaction highlights

Capital Increase of 8,682,500 common shares including overallotment option at a price of USD 53.00 per share, generating gross proceeds of USD 460 million for Merus at a discount of 3.4% to the pre-launch closing price
The transaction was launched on the back of interim Phase II data readout of Merus’ lead asset, petosemtamab, which, in combination with pembrolizumab, demonstrated clinically meaningful activity in first line head and neck cancer, with a 67% ORR, observed across tumour PD-L1 expression levels and HPV status together with a strong safety profile
Furthermore, the company announced that it plans to start a registrational Phase III trial of petosemtamab in combination with pembrolizumab in first line head and neck cancer by the end of 2024
Merus intends to use the proceeds to advance the clinical development of its product candidates, for preclinical research and technology development, and for working capital and general corporate purposes
Van Lanschot Kempen acted as the only European Bank in a US banking syndicate and is proud to have contributed to the most successful financing in the history of Merus

Company description

Merus is a clinical-stage oncology company developing innovative full-length human bispecific and trispecific antibody therapeutics, referred to as Multiclonics®. Multiclonics® are manufactured using industry standard processes and have been observed in preclinical and clinical studies to have several of the same features of conventional human monoclonal antibodies, such as long half-life and low immunogenicity.

Background Van Lanschot Kempen Life Sciences & Healthcare

Sole Financial Adviser to Pharming Group in the refinancing of its convertible bonds
Financial Adviser in the SEK 107 million Rights Issue by Alligator Bioscience
Co-Manager in the USD 350 million Capital Increase by Autolus Therapeutics
Financial Adviser to Galapagos in the EUR 170 million sale of its Jyseleca business to Alfasigma
Sole Financial Adviser to Zealand Pharma in securing a EUR 90 million venture debt facility from the European Investment Bank
Joint Global Coordinator & Joint Bookrunner in the SEK 59 million Capital Increase by Cantargia
Joint Global Coordinator & Joint Lead Bookrunner in the NOK 505 million Capital Increase by Nykode Therapeutics
Sole Financial Adviser in the SEK 120 million Structured Equity transaction by SynAct Pharma
Lead Manager in the USD 173 million Capital Increase by Merus
Lead Manager in the USD 1.3 billion Capital Increase by argenx
Joint Bookrunner in the SEK 500 million Capital Increase by Vicore Pharma
Financial Adviser to NewAmsterdam Pharma in the USD 182 million secondary sell-down by existing investors

Contact

Merus

Transaction highlights

Company description

Background Van Lanschot Kempen Life Sciences & Healthcare

Contact

Morgan Haller

Robin van Wijk

Nadine Maalouf

Kathrin Erfurth

Anne van Lint