Danish biopharma Genmab is acquiring Dutch biotech Merus for approximately $8 billion in cash to gain full ownership of Merus’ late-stage cancer assets, including the bispecific antibody petosemtamab targeting head and neck cancer. The acquisition strategically shifts Genmab from royalty-based partnerships toward fully owning promising programs. Petosemtamab showed an overall survival rate of 79% in a Phase II trial when combined with Merck’s Keytruda and holds two FDA Breakthrough Therapy Designations. This deal bolsters Genmab’s late-stage pipeline, positioning it to expand revenues and clinch leadership in oncology antibody therapy.