Merus rises on Gilead collaboration to discover anti-body based therapies

Merus NV

06/03/2024 14:03

** U.S.-listed shares of Netherlands-based therapy developer
Merus NV  MRUS.O  rise 1.5% to $50.70 premarket
    ** Co says it will collaborate with Gilead Sciences  GILD.O 
to research and develop anti-body based therapies to treat
cancer 
    ** Merus will lead early-stage research activities for two
programs and Gilead will have the right to license programs
developed under the collaboration
    ** Merus will receive an upfront cash payment of $56 mln for
initial targets as well as an equity investment by Gilead of $25
mln in Merus common shares
    ** Co is also eligible to receive up to $1.5 bln on 
potential development and commercialization milestones
    ** Up to last close, stock up more than double in the last
12 months

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))