Danish biotech Genmab completed an $8 billion all-cash purchase of clinical-stage Merus, marking its largest acquisition and a strategic pivot toward an integrated biotech model. The deal centers on Merus’ lead bispecific antibody petosemtamab, targeting EGFRxLGR5 for head and neck squamous cell carcinoma, which holds two FDA breakthrough therapy designations. Genmab aims to accelerate growth, diversify revenue, and internally control therapeutic assets with this acquisition, underscoring strong confidence in bispecific antibody platforms to address challenging oncology indications.