REG - RTW Biotech Opp. - Genmab to acquire Merus

RTW Biotech OpportunitiesAnnouncement

30/09/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250930:nRSd3826Ba&default-theme=true

RNS Number : 3826B  RTW Biotech Opportunities Ltd  30 September 2025

LEI: 549300Q7EXQQH6KF7Z84

30 September 2025

RTW Biotech Opportunities Ltd

Genmab to acquire Merus

 

RTW Biotech Opportunities Ltd (the "Company"), the London Stock
Exchange-listed investment company focused on identifying transformative
assets with high growth potential across the life sciences sector, is pleased
to note the announcement by portfolio company Merus N.V. ("Merus" Nasdaq:
MRUS) that it has entered into a definitive agreement to be acquired by Genmab
A/S ("Genmab" Nasdaq: GMAB).

 

Genmab will acquire Merus in an all-cash transaction of $97 per share,
totaling approximately $8 billion. The transaction is expected to close in the
first quarter of 2026. The acquisition price represents a 41% premium to
Merus' closing share price on 26 September, prior to the announcement. As of
31 August 2025, Merus represented 1.18% of the Company's NAV.

 

Merus is an oncology company developing full-length human bispecific and
trispecific antibody therapeutics, whose lead asset petosemtamab will be a
strategic fit with Genmab's portfolio and aligns with Genmab's expertise in
antibody therapy development and commercialisation in oncology. Petosemtamab
is a bispecific antibody with the potential to be both first- and
best-in-class in head and neck cancer and has been granted two Breakthrough
Therapy Designations by the FDA.

 

Rod Wong, CIO of RTW Investments, said, "The acquisition of Merus by Genmab is
the third take-out from our portfolio this year, following the acquisitions of
Verona and Alcyone announced in recent months. Separately, the read across
from Pfizer's acquisition of Metsera (not a portfolio company) is particularly
encouraging for our obesity assets, Corxel and Kailera, which represent a
meaningful portion of NAV. These transactions reflect positive momentum across
the sector. Large pharma companies urgently need to replace revenues that will
be lost to patent expirations in the next several years. We're also seeing
validation through data with another RTW Bio investment, uniQure, last week
reporting positive results in Huntington's disease, sending its shares up 248%
on the day. This combination of clinical progress and strategic interest gives
us confidence in the direction of the portfolio and the opportunity ahead."

 

Merus' announcement can be found here
(https://ir.merus.nl/news-releases/news-release-details/genmab-acquire-merus-expanding-late-stage-pipeline-and)
.

 

Enquiries:

 RTW Investments, LP - Investment Manager  +44 (0)20 7959 6362

 Oliver Kenyon                             biotechopportunities@rtwfunds.com

 Woody Stileman

 Krisha McCune (Investor Relations)

 Cadarn Capital - PR & IR Partner

 Lucy Clark (PR)                           +44 (0)7984 184 461 / lucy@cadarncapital.com

 David Harris (Distribution)               +44 (0)7368 883 211 / david@cadarncapital.com

 Deutsche Numis - Joint Corporate Broker   +44 (0)20 7260 1000

 Freddie Barnfield

 Nathan Brown

 BofA Securities - Joint Corporate Broker  +44 (0)20 7628 1000

 Edward Peel

 Alex Penney

 Altum (Guernsey) Limited                  +44 (0)1481 703 100

 Joanna Duquemin Nicolle

 Sadie Morrison

 

About RTW Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (LSE: RTW) is an investment fund focused on
identifying transformative assets with high growth potential across the
biopharmaceutical and medical technology sectors. Driven by a long-term
approach to support innovative businesses, RTW Biotech Opportunities Ltd
invests in companies developing next-generation therapies and technologies
that can significantly improve patients' lives. RTW Biotech Opportunities Ltd
is managed by RTW Investments, LP, a leading healthcare-focused
entrepreneurial investment firm with deep scientific expertise and a strong
track record of supporting companies developing life-changing therapies.

Visit the website at www.rtwfunds.com/rtw-biotech-opportunities-ltd
(https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/)  for more
information.

 

***********

The information in this announcement may include forward-looking statements,
which are based on the current expectations and projections about future
events, and in certain cases can be identified by the use of terms such as
"may", "will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking
statements, as well as those included in any related materials, are subject to
risks, uncertainties and assumptions about the Company and/or its underlying
investments, including, among other things, the development of the applicable
entity's business, trends in its operating industry, expected use of financing
proceeds and future capital expenditures and acquisitions. In light of these
risks, uncertainties and assumptions, the events in the forward-looking
statements may not occur.

The information contained in this announcement is given at the date of its
publication (unless otherwise marked). No reliance may be placed for any
purpose whatsoever on the information or opinions contained in this
announcement or on its completeness, accuracy or fairness.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEASNEDSASEEA