Merus Files for IPO
Merus has filed with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO).
Merus has filed an F-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $60 million. The company intends to list on the Nasdaq Global Market under the symbol MRUS.
The underwriters for the offering were Citigroup, Jefferies, Guggenheim Securities and Wedbush Pacgrow.
This is a clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics. Its pipeline of full-length human bispecific antibody candidates, which are referred to as Biclonics, that are generated from its technology platform. By binding to two different antigens, or targets, Biclonics can be designed to simultaneously block receptors that drive tumor cell growth and survival and to mobilize the patient’s immune response by activating various killer cells to eradicate tumors.
In pre-clinical studies, the bispecific antibody candidates were effective in killing tumor cells, a result that the Merus believes supports its potential efficacy in the treatment of cancer.
In February 2015, the company commenced a Phase 1/2 clinical trial of its lead bispecific antibody candidate, MCLA-128, for the treatment of HER2-expressing solid tumors, and Merus expects to report top-line results from this trial in the first half of 2017. In the first quarter of 2016, the company expects to commence a Phase 1/2 clinical trial with its second bispecific antibody candidate, MCLA-117, for the treatment of acute myeloid leukemia (AML).
Additionally, Merus has several bispecific antibody candidates in pre-clinical development that bind to combinations of immunomodulatory molecules, including programmed death receptor-1 (PD-1) and programmed death-ligand 1 (PD-L1) both of which the company believes play a significant role in treating cancer.
The company intends to use the net proceeds from this offering to develop its pipeline. The remainder will go to fund its other current and future research and development activities and for working capital and other general corporate purposes.
ALSO READ: Cowen’s 4 Large Cap Biotechs to Buy Now
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
