Sofinnova Ventures and Novo A/S step into one of the biggest European series C financing rounds, which is about €72.8 million. The money goes to the Dutch immuno-oncology company Merus and will advance its cancer-fighting bispecific antibodies.
Back in April, Merus announced its intention to go public at the Nasdaq, with the goal of raising at least €100M this year, but then the company decided to cash in the money in a private round for the moment. This may be because of the unstable markets these days or just to give a little foretaste of what is to come.
The clinical-stage company, which has raised more than €50M in series B, already had the support of big pharma, including Novartis Venture Fund, Johnson & Johnson Innovation – JJDC, Inc. and Pfizer Venture Investments. For its present financing round, Merus attracted further well-known investors, namely Sofinnova Ventures and Novo A/S, which jointly led the €72.8M round.
The money will advance Merus’