Merus enters $56M upfront collaboration with Gilead for trispecific antibody programs; potential $1.5B milestones

Merus N.V.

Gilead pays $56M upfront for rights to Merus' Triclonics platform; up to two more programs at $28M each.
Total potential milestones up to ~$1.5B across three programs; tiered royalties mid-single to low double digits.
Gilead purchases 452,527 shares at $55.2454/share (~$25M) in private placement; no transfer for set period.
Merus may elect 50/50 profit-loss share for third program after first IND filing instead of milestones/royalties.
Agreement covers at least two preclinical programs; Gilead has exclusive option per program to license and commercialize.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Merus N.V. entered into Collaboration Agreement with Gilead Sciences, Inc. valued at $56 million (effective 2024-03-05).

Action: entry
Agreement: collaboration
Counterparty: Gilead Sciences, Inc.
Value: $56 million
Effective: 2024-03-05

Exact text from the filing

On March 5, 2024, we entered into a collaboration, option and license agreement (“Collaboration Agreement”) and Share Subscription Agreement (the “Subscription Agreement”) with Gilead Sciences, Inc.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

Merus N.V. entered into Share Subscription Agreement with Gilead Sciences, Inc. (effective 2024-03-05).

Action: entry
Agreement: equity purchase
Counterparty: Gilead Sciences, Inc.
Effective: 2024-03-05

Exact text from the filing

On March 5, 2024, we entered into a collaboration, option and license agreement (“Collaboration Agreement”) and Share Subscription Agreement (the “Subscription Agreement”) with Gilead Sciences, Inc. (“Gilead”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-24-060033

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